Professor Garnaut suggests the creation of a new energy security council which could act to prevent instability in the industry following the introduction of a carbon price.
The new body would be authorised to undertake a range of rapid interventions to stabilise the market, and could provide short-term loan guarantees.
"A government loan guarantee on the debt of generators will have the effect of reducing the short-medium term probability of generator insolvency," he says.
The loan guarantee would be made available to a small number of emissions-intensive generators.
A recent report by Morgan Stanley said Victorian brown coal generators could lose 20-60 per cent of their asset value if no compensation was payable when a carbon price was imposed.
Maybe "1000 year" Flannery might be looking for a job following his recent joust with Andrew Bolt .
No comments:
Post a Comment