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PTR MINERALS LTD — Regulatory Filings 2011
Oct 11, 2011
65621_rns_2011-10-11_615bc3e8-5c65-4e9a-aea6-d9a825892b68.pdf
Regulatory Filings
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PETRATHERM LIMITED ABN 17 106 806 884
Petratherm welcomes carbon pricing legislation passage through lower house of Federal Parliament
Petratherm welcomes today’s passage of carbon pricing legislation through the lower house of Federal Parliament. The legislation includes a package of carbon pricing initiatives that are aimed at commencing in July 2012.
The key points from those carbon pricing initiatives are summarised as follows:
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The introduction of a price on carbon creates the investment framework and certainty needed to enable significant renewable energy development;
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The $13 billion investment through the new Clean Energy Finance Corporation and the Australian Renewable Energy Agency will provide funding to the development of renewable energy projects, and
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The carbon pricing initiatives will commence from July next year at a price of $23 per tonne of CO2 and will be replaced with a market based Emissions Trading Scheme by July 2015.
The carbon pricing and clean energy funding initiatives represent the single most significant government assistance package for renewable energy in general and potentially for the geothermal energy sector.
12 October 2011
ASX Code: PTR
ABN 17 106 806 884
Level 1, 129 Greenhill Road Unley SA 5061
T: +61 8 8274 5000 F: +61 8 8272 8141 W: www.petratherm.com.au/ E: [email protected]
Petratherm, as a leading explorer and developer of geothermal energy is well positioned to benefit from those new initiatives.
Petratherm looks forward to working with the new Corporation and Agency, in promoting geothermal energy, particularly our flagship project at Paralana where fracture stimulation and flow testing of the natural geothermal system has been recently completed.
Yours faithfully
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Terry Kallis Managing Director
MEDIA CONTACTS: Terry Kallis Kieran Hall / Tim Hughes
Petratherm Ltd 08 8274 5000 Hughes Public Relations 08 8412 4100