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Archive for the ‘Carbon Price’ Category

Govts’ faith in favourite weapon to fight climate change – the price of carbon – to end in tears, analysts say; carbon price has had “virtually no effect on the market so far and virtually no effect on climate change”

Posted by gmarkets on 4 October, 2007

The battle to beat climate change has come down to one weapon – the price of carbon, according to Jeremy Lovell in The Canberra Times (26/9/2007, p.10). Read the rest of this entry »

Posted in Australia, Carbon Price, Climate, Emissions, Emissions Trading, Energy, Green Markets 1001 | Leave a Comment »

GEC market spots trade at the sub-$14 level

Posted by gmarkets on 25 September, 2007

In the GEC market, the previous week’s buyer intuition appeared to come true as the spots traded at the sub $14 level. 100K of the spots went through at $13.75 and the spread then moved down to reflect a price somewhere below this.

GPR action: Some action was also seen in the GPR market as a small parcel (7K) went through at $1.00. Further interest remained in the market on both sides late in the week.

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Posted in Carbon Price, Green Markets 0920 | Leave a Comment »

REC price mellows: $35.75 – small drop from highs reached two weeks ago; dramatic rise after Fed opposition announcement to increase MRET

Posted by gmarkets on 25 September, 2007

On the back of a big proceeding week, the REC market mellowed last week, according to The Green Room.

Recs price

Spot activity: A number of trades were reported in the spot variety: several of them were 10K or above, but all of them took place at $35.75. This level seemed to hit the mark for buyers and sellers and represents only a small drop form the highs reached two weeks ago.

REC price bounce on ALP MRET pledge: The graph above depicts what REC sellers may be referring to as ‘superb September’. After prices remained steady for several months (between $31.00-$32.00), the start of September saw a dramatic increase after a Federal opposition announcement to increase MRET. Though not an actual policy announcement and instead an indication of what will be announced when the ‘real’ election campaign begins, it appeared enough to brighten the outlook in the market.

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Posted in Carbon Price, Credits, Green Markets 0920 | Leave a Comment »

NSW NGACs sustain 50pc price-crash into second week to $6.35 on light-bulb surplus

Posted by gmarkets on 25 September, 2007

For NSW Greenhouse Abatement Certificates, the fall in value – by half – was sustained into a second week.

NGACs price

Now what? It is the second week in a row of steady or moderate price drops but there is still no consensus on where it will go from here. In the spots, the middle of the week saw most of the activity take place with several large parcels going through at $6.35. A number of small deals also went through slightly above this level. Late in the week a series of forward deals went through, providing some idea of where the prices sat along the curve. The deals that took place — all standard market parcels —inferred a spot price below the spot level established earlier (approximately $6.25)”.

Reference: The Green Room, Edition 121, 24 September 2007.

Posted in Carbon Price, Green Markets 0920, NSW | Leave a Comment »

PM spruiks climate ‘Action’

Posted by gmarkets on 25 September, 2007

“My department is today issuing a discussion paper on maintaining abatement incentives in the lead-up to emissions trading, which we aim to commence in 2011,” Australian Prime Minister John Howard announced yesterday.

No-pain policy? “The Government wants to ensure that firms undertaking emissions abatement are not disadvantaged ahead of the scheme commencing. We also want to explore the scope for positive incentives to undertake new, additional abatement”.

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Posted in Carbon Price, CCS, CO2 Dumps, Emissions, Federal Election, Geosequestration, Green Markets 0920 | Leave a Comment »

Australia will ‘move towards’ a domestic emissions trading system no later than 2012; Government to set fuzzy goal, in 2008, says PM

Posted by gmarkets on 20 September, 2007

In an answer to a question in the Federal Senate from Senator Lyn Allison, Senator Eric Abetz said that in response to the emissions trading taskgroup report released on 31 May 2007, Prime Minister John Howard announced on 3 June 2007 that Australia would move towards a domestic emissions trading system no later than 2012, and that the Government would set, in 2008, a long-term aspirational goal for cutting greenhouse gas emissions. Read the rest of this entry »

Posted in Carbon Price, Emissions, Emissions Trading, Federal, Green Markets 0919, Hansard, Policy | Leave a Comment »

Indonesia orders Bali lobbying-frenzy to reverse first-round Kyoto agreement that does not include tradeable emissions from forest land

Posted by gmarkets on 20 September, 2007

The APEC summit will help set the stage for the UN climate change conference in Bali in December by putting the Kyoto protocol to one side “and just talking about the Earth”, according to Indonesia’s Environment Minister, reported The Australian (4/9/2007, p.7). Read the rest of this entry »

Posted in Asia, Biofuels, Carbon Price, Credits, Forest, Global, Green Markets 0919, Indonesia, Kyoto, Policy | Leave a Comment »

Around $300 can render a large family household “carbon neutral” for a year

Posted by gmarkets on 19 September, 2007

Rather than changing your lifestyle, there was another way to clear your conscience about the size of your carbon footprint: via your wallet and carbon offsets, reported The Australian (15/9/2007, p.1). Selling savings back to consumers: For around $300 companies such as Easy Being Green could render a large family household “carbon neutral” for a year. This equated to reducing the amount of CO2 pollution a home produced by nearly 15 tonnes. Other companies in this space included the Carbon Reduction Institute and Neco. These companies undertook energy efficient projects and installed energy-saving technologies — such as compact fluorescent light globes and water-saving showerheads — into homes and businesses across the country. Easy Being Green offers energy-efficient light globes, installed in homes free of charge, via its website. Each of these globes is then calculated as providing 15,000 hours of energy-saving light that will cut CO2 pollution by 900kg in its lifetime. The company is then authorised to sell that 900kg saving back to customers for $20 through any one of its carbon-neutral packages (it offers a $297.15 package for a 4+ person family home). Devilishly clever and everyone wins, including the planet — or does it?

Consumers buy clean consciences: As George Monbiot, author of Heat: How to Stop the Planet Burning has said: “Any scheme that persuades us we can carry on polluting delays the point at which we grasp the nettle of climate change and accept that our lives have to change… By selling us a clean conscience, the offset companies are undermining the necessary political battle to tackle climate change at home. They are telling us we don’t need to be citizens; we need only to be better consumers.”

Reference: Easy Being Green:
Carbon Reduction Institute:

Posted in Accounting, Carbon Price, Emissions Trading, Energy Efficiency, Green Markets 0919, How to make money, VERs, Voluntary | Leave a Comment »

Not so easy being green: light bulb-trader trader seeks NSW state rescue after NSW carbon-price-crash

Posted by gmarkets on 17 September, 2007

 According to Wendy Frew and Marian Wilkinson, a plunge in NSW carbon price – caused by an oversupplied market colliding with investor un-certainty – had critics say the State Government has made it too easy for polluters to partici-pate in the market and that the Federal Government has created ,long-term uncertainty about climate change policy.

Whinge of the week: Paul Gilding, the head of the high-profile energy saving com­pany Easy Being Green, told the Herald the scheme was in crisis and that the survival of his company was on the line. Easy Being Green is abso­lutely at risk of ceasing to exist in NSW if the price stays where it is,” he said. “It means the end of operations in this state and the end of 140 permanent jobs and 100 full-time contractors.”

NGACs feature in Owen Review: “The revelation of the crisis is an embarrassment for the NSW Government, which will release the Owen report this morning, recommending the sale of the state’s electricity retailers and generators. Under the scheme – the first of its kind in Australia – power plants, forestry groups and energy efficiency companies that act to cut greenhouse gas emissions are awarded certifi­cates, each one representing the equivalent of one tonne of carbon dioxide avoided. They sell these certificates to energy retailers, which have to meet mandatory emissions tar­gets set by the State Govern­ment. The costs are passed on to electricity consumers. The certificates generated since 2003 are estimated to be worth about $450 million. But over the past few months a series of federal and state policy an­nouncements has sent the market into a spin”.

The Sydney Morning Herald, 11/9/2007, p. 1

Posted in Carbon Price | Leave a Comment »

NSW carbon trading scheme on brink of collapse: jobs, companies at risk because of govt inaction, says millionaire Easy Being Green chief

Posted by gmarkets on 15 September, 2007

The NSW carbon trading scheme was on the brink of collapse as the falling price of credits looked likely to send several companies to the wall, reported The Age (13/9/2007, p.4).

Undermining CO2 efforts: “The announcement of a federal emissions trading scheme has caused the price of carbon credits to plunge from $12 to $6. This was undermining companies such as Easy Being Green, which helped households cut greenhouse gas emissions in return for carbon credits. Easy Being Green would hold a rally in Sydney, expected to be attended by hundreds of people protesting against the NSW Government’s decision not to bolster the Greenhouse Gas Abatement scheme”.

Govt inaction: “More than 1000 jobs would be lost through the collapse of the scheme, Easy Being Green chief executive Paul Gilding said. “The purpose of our company is not to make money but to cut carbon,” he said. “The real tragedy is that next year there will be 10 million tonnes of carbon that won’t be cut because this policy, which has been successful, will be scrapped. We know how to cut emissions, we have distributed 10 million low-energy light globes to NSW homes, saved households over $150 million a year off energy bills, but we can’t do it at the current prices. It is outrageous that the NSW Government hasn’t done more to extend the scheme.”

The Age, 13/9/2007, p. 4

Posted in Australia, Carbon Price, Markets, NSW, Policy, Protest, Registry | Leave a Comment »