Australia's greenhouse gas emissions from electricity generation have fallen to a 10-year low as coal-fired power slumped to its lowest level in a decade, a new report says.The country's (and the world's) largest mining company says its effective tax rate in Australia is 45%....
At the same time, the share of renewable energy in the National Electricity Market (NEM) has soared beyond 12 per cent and looks set to continue rising.
In its latest quarterly emissions outlook, energy and carbon research firm RepuTex found coal power made up 74.8 per cent of the NEM in the three months ended in March - its lowest point in 10 years.
Coal was at more than 85 per cent of the NEM four years ago, when wind made up just half a per cent of the overall mix.
Today, wind generation is at 3.8 per cent, hydro 8.7 per cent and gas at 12.7 per cent of the NEM.
"Renewables are basically cancelling out coal," RepuTex executive director Hugh Grossman told AAP on Thursday.
As a result, Australia's CO2 emissions were driven down to a ten-year low, he said.
Friday, April 12, 2013
Australia's Carbon Tax is Working
The latest data shows emissions from Australia's power sector have dropped to a 10-year low:
Posted by David Appell at 4/12/2013 07:42:00 AM