Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Energy Resources Aotearoa: Doubling Of Coal Use Shows Need For Local Natural Gas

New figures showing a near doubling of coal-fired electricity generation highlight New Zealand’s energy shortage and the need for natural gas as a lower carbon alternative, according to Energy Resources Aotearoa... More>>

E Tu: ‘Sense Of Mourning’ As Norske Skog Mill Set To Close

Workers at Norske Skog’s Tasman Mill now know they’ll be losing their jobs in little over a month’s time.
On Wednesday afternoon, workers were told the mill will be stopping production from the end of June... More>>

Stats NZ: Card Spending Sees Strong Growth In May

Seasonally adjusted card spending rose by $189 million (2.3 percent) between April 2021 and May 2021, Stats NZ said today.
Spending rose across all industries for the first time since New Zealand moved to level 1 in June 2020... More>>

Catalist: NZ’s New SME Stock Exchange, Gets Licence To Go Public

New Zealand has a new stock exchange – designed specifically for small and medium-sized businesses (SMEs) to raise up to $20 million a year from the public.
Called Catalist, the exchange has already been successfully working the private investment sector.... More>>

E-Commerce: Over 40% Of Those Engaged In The Bitcoin Community Are Millennials

Bitcoin has emerged to be a popular topic among millennials with digital currency increasingly being viewed as a potential source of creating wealth through investments. The interest in bitcoin by millennials signals the role this age group plays in the possible realization of the digital currency’s mass adoption... More>>

Stats NZ: New Zealand Is Getting Drier

While there is natural variation in precipitation due to seasons and cycles, New Zealand appears to be getting drier, Stats NZ said today... More>>