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Moves toward carbon trading market welcomed

Moves toward carbon trading market welcomed

Genesis Energy welcomes moves by a variety of parties to develop a carbon trading market for this part of the world, but believes it must provide a trading solution at the least cost for electricity consumers.

As the owner and operator of Huntly Power Station, Genesis Energy is the largest single emitter of carbon dioxide, a greenhouse gas, in New Zealand’s electricity sector. It supports the introduction of carbon pricing, whether it is introduced through a carbon tax or carbon emissions trading.

Genesis Energy’s Public Affairs Manager Richard Gordon said the company has not participated in any proposal to develop a local carbon trading market.

“We are aware of a number of proposals under development. We are a keen on-looker at this stage. We support any development but want to be sure that there will be an open, competitive and contestable process for the potential provider.”

“At the end of day it is crucial that commercial and residential customers are comfortable that the best and least cost solution is found,” he said.

In the meantime Genesis Energy is looking forward to the full introduction of its new gas turbine, e3p, into the market. Once fully commissioned e3p will enable Genesis Energy to displace higher CO2 emitting coal fired generation. E3p has been running at up to 100% load in recent commissioning tests and is expected to be fully available to market in a matter of weeks.

ENDS

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