Australian Cogeneration Association Encourages Early Greenhouse Gas Trading

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Australian Cogeneration Association Encourages Early Greenhouse Gas Trading

March 22, 2000—Reuters reports that the Australian Cogeneration Association warned today that domestic greenhouse gas
emissions from electricity generation are soaring and recommended the Australian government adopt an emissions trading
regime and increase use of cogenerated power.

Although Australia’s government has not yet finalized plans for an emissions trading system, the country’s Greenhouse Gas
Office has said that a domestic trading program could be established by 2008 in conjunction with an international system.

The Association also argued that cogenerated power has the potential to provide Australia with almost half of its needed
emissions reductions. Cogeneration, a process of energy production that provides both electricity and steam power from a
single fuel source such as gas or a renewable fuel, would replace coal-fired electricity. The burning of coal emits high levels of
greenhouse gases.

In their report, the Association noted that by 2010, greenhouse gas emissions are expected to rise to 41% above 1990 levels if
no mitigation action is taken. The Kyoto Protocol, signed in 1996, obligates Australia to reduce its net emissions to 8% above
1990 levels by 2010.