Australia To Begin Carbon & Green Power Trades

The Sydney Futures Exchange and its subsidiary, the New Zealand Futures and Options Exchange are launching a global exchange market for carbon credits. Initially, these credits will be sourced from certain forest sequestration activities. Credits are available for forests planted after January 1 1990 that result in a land use change (for example, from grazing to forestry).

As of January 2001, residential and small business customers will be able to choose their electricity supplier in Australia. Large companies already have this choice. 15 Australian energy companies have joined to form the agreed to Green Electricity Market (GEM) Project on the Internet to facilitate member green power trades. a major boost to Australias renewable energy sector as it prepares to meet requirements arising from the federal Renewable Energy Target, as well as to meet retail customer demand for green power.

It will be online by early 2001 and is expected to give a real boost to the renewable energy market in Australia. GEM will allow members to meet the mandatory target of providing 9,500 GWh of renewable energy. They will be able to track their generation and build an efficient market for renewable energy certificates.

The company developing the exchange is the Australian subsidiary of M-co, the firm that administers the New Zealand electricity market. It transacts over A$1 billion worth of trading each year over the Internet.

Carbon Exchange: [sorry this link is no longer available]

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