Carl McCamish, executive general manager of policy and sustainability of Origin, said that the ongoing uncertainty surrounding the CPRS legislation was delaying both the investment necessary to meet Australia’s long-term baseload electricity needs and the investment in lower-carbon technology required to gradually reduce Australia’s emissions. Companies like Origin continue to work with the Government within the framework set out by the CPRS legislation on how to ensure all contributions to reducing emissions are fully recognised.
Carl McCamish, said: “We remain convinced the CPRS legislation provides the framework for a good, workable scheme. It is sufficiently flexible to adjust over time to ongoing developments in the science of climate change and in the international negotiations around Copenhagen and beyond. It puts in place a range of measures to make the adjustment smooth.
“In the big picture, the world must transition away from high emissions fuels to lower emission fuels, for example in the fast-growing economies of Asia. That is why we continue to work with the Government on recognising the role of exported natural gas in addressing climate change. Natural gas produces approximately half the carbon emissions of coal when used for electricity generation. Yet it is proposed that natural gas exports receive well less than 60% effective compensation while more carbon-intensive industries get 90%.”
The company called for the Renewable Energy Target (RET) to be de-linked from the CPRS legislation.
Origin, a green energy retailer, has investments in renewable technologies including wind power, geothermal and solar energy. Origin is also investing significantly in new gas fired electricity capacity with more than $2 billion to be invested by the end of 2010, and has a similar scale of further investment in gas and renewables under consideration.
