Exact(8)
Hunt has, on occasions, said the safeguards mechanism could be tightened to force electricity generators and industry to reduce emissions more.
It would force electricity providers to lock up the vast majority of their supply at least a month before delivering the power, radically reducing the amount of trading -- and scheming -- that occurs in real time.
Hunt has said access to international permits would be decided when the safeguards mechanism was reviewed in 2017-18, and has on occasions said it could be tightened to force electricity generators and industry to reduce emissions after 2020.
A new rule adopted by federal regulators will force electricity traders to report individual transactions in detail beginning in July, preventing them from concealing the sort of fake "round-trip" trades that have allowed large energy producers to inflate their volumes and revenue, regulators say.
Tim Yeo, a former minister, has tabled an amendment that would force electricity generators to remove coal-fired and gas-fired power stations from their networks by 2030, unless those plants were equipped with machinery to capture and store carbon dioxide emissions.
Among the measures the government has taken is pouring money into renewables to reach a 10% target by 2010, and force electricity distributors to buy electricity from "green power", even though it is more expensive than that produced by fossil fuels.
Similar(52)
The seeds of that enormous change were planted in the 1830s, when the British physicist Michael Faraday built electric motors and showed that two natural forces, electricity and magnetism, were related.
It also forced electricity suppliers to use some wind power.
But those failures forced electricity to take other routes, causing power surges.
If a future government decides that forcing electricity companies to produce uneconomic power is a bad idea, a lot of wind farms will find themselves on the rocks.
Ever since Ed Miliband forced electricity and gas profiteering into political focus by pledging a price freeze, the monopolists have outdone themselves.
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Justyna Jupowicz-Kozak
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