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OLD ROCK STAR WILL GIVE YOU $8000 3-May-2009 At 11:41:26 AM Tim Kelly

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Is true at the moment.

RECs have no legal meaning in terms of greenhouse reductions or use of renewables.

What you are referring to is that GreenPower currently serves to reduce National emissions and once an emissions trading scheme is established this benefit will be diminished.

Read the 'current' NGERS Determination. The use aspect and reduced emissions have been legally assigned to all grid customers. "No other method is supported" (see Pages 305-307 of the NGERS Technical Guidelines 2008). GreenPower double counts use of renewable energy and reduced emissions for customers on every household GreenPower electricity bill.

I find the interesting that the suggestion of retiring an Australian Emissions Permit (AEU) with a renewable energy sale is getting traction. This will ensure a zero benefit.

Using Penny Wong's and the DCC logic that voluntary actions count because they reduce the demand on AEUs, lower the market price of AEUs and therefore make the situation more feasible for the Government to lower the caps in following years one could almost believe that this might be sort of believable. However, as soon as you attach an AEU to a GreenPower sale the increased demand for AEUs is re-established, the downward pressure on AUE prices is eliminated and there is zero change.

Throwing AUE's in the bin does nothing to improve Australia's capacity reduce emissions and cannot work when the caps are based of Government perception the feasibility to reduce emissions. Thes concept cannot work in isolation from a GreenPower sale and would be self cancelling if within a GreenPower sale.