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February 28th, 2012 
FAKE NEWS for the Zionist agenda Data from the Climate Change Department released yesterday showed that power generators accounted for some 170 million tonnes of carbon dioxide emissions in the 2010-11 financial year, which if repeated next year could leave the sector on the hook for more than half of the revenues expected to be raised by the looming carbon tax, according to The Australian.
The emission levels could force electricity generators to pay $3.9 billion in the carbon tax’s first year, which would be the largest share of the $7.7 billion expected to be paid during the first year of the carbon tax.
Generators have warned their dominant share of the carbon tax could leave the sector in a cash flow crisis, with the operator of Queensland’s black-coal power generator Millmerran, InterGen, having already sought assistance from the federal government’s Energy Security Council because its expected carbon tax costs had hurt its $467 million refinancing efforts.
Victoria’s largest power plant, Loy Yang Power, has also had talks with the ESC regarding its $565 million refinancing due in November, according to The Australian.
Meanwhile, Macquarie Generation chief executive Russell Skelton has warned that electricity prices will rise beyond government forecasts due to the carbon tax, according to The Australian Financial Review.
The Treasury has estimated that prices will rise 0.7 per cent due to the carbon tax in 2012-13. However, Mr Skelton said prices could rise more steeply as a result of the tax and its related costs.
“We expect to go from a profitable business to an unprofitable business partly as a result of the carbon price,” Mr Skelton said, according to the AFR.
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