May 2014 Energy Market Update

In April the market rate for Victorian Energy Efficiency Certificates softened with a price of $17.50 per certificate, down from $18 spot price close in March. ESC from NSW continued to fall to current price of $10, down from $12 in March (1). 

While the carbon tax repeal has been expected to pass the Senate in July, Clive Palmer has now threatened to block the repeal. Palmer does not want funding to go to direct action on climate change which includes direct payments to businesses and plans to block the measure even if included in the budget package (2).
Overseas, Britain is planning to freeze the tax on carbon emissions from electricity generation at 18 pounds a ton of carbon in April 2016 to cut consumer costs (3). China has announced a war on its pollution and is considering a carbon tax (4).

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