Origin Energy welcomes the Green Paper as an important step on the path to a lower-emissions economy
ASX/Media Releases
16 Jul 2008
Origin Energy today welcomed the release of the Federal Government’s Green Paper on climate change:
“Climate change poses particular risks for Australia. We strongly endorse the Government’s view that it is in our national interest to help forge an effective global response to climate change and to begin in earnest the transformation towards a lower-emissions future for Australia,” said Grant King, CEO of Origin.
“It is clear from today’s Green Paper that the Government recognises not only the importance of this transformation for Australia’s future, but also the complexity of some of the issues it will raise. We welcome this, and look forward to working with Government on making the transition happen.
“In particular we are very pleased to see that an emissions trading scheme is at the heart of the Government’s plans. A trading scheme is the best mechanism to move to a low-carbon future. It is the approach that delivers the lowest cost to business and therefore to the consumer.
“While Origin strongly supports the implementation of an emissions trading scheme we are conscious of the impact this will have on households through increased energy costs. Although this will increase pressure on household budgets, passing costs through to consumers creates the right signal to encourage behaviour change that will reduce emissions. We are very heartened to see that strong measures have been suggested to help vulnerable households manage under an emissions trading scheme,” Mr King said.
“We also note the Government’s detailed laying out of the issues facing electricity generation. Since signing the Kyoto Protocol in 1998, Australia has been committed to the principle of addressing climate change. Companies like Origin have been preparing for the transition to a lower-emission economy by investing over time in gas-fired generation and renewables, and by offering products and information to our household customers to help them reduce their carbon footprint,” Mr King said.
“Not all of Australia’s companies have been preparing for the transformation in this way, and we recognise that this raises complex issues. We support a limited amount of compensation for generators particularly hard hit by the trading scheme, though only as a way of transitioning them to a lower-emissions economy.
“As Origin has shown, innovative Australian energy companies can create sustainable businesses that contribute significantly to the transformation to a low-emission economy through actions and sharing knowledge about complex energy markets.
“We look forward to contributing to discussion on what is one of the most important public policy challenges facing Australia.”
For further information please contact:
Media
Michelle Hindson
Acting General Manager, Corporate Communications
Origin Energy
Ph: 02 8345 5217
Mobile: 0414 207 049
Investors
Angus Guthrie
Manager Investor Relations
Origin Energy
Ph: 02 8345 5558
Mobile: 0417 864 255