Renewable energy futures for Australia’s stock exchange
Australia’s ASX to launch renewable energy futures
Thu Sep 17, 2009
SYDNEY, Sept 17 (Reuters) – Australia’s futures exchange operator ASX Ltd (ASX.AX) plans to establish a futures market for renewable energy by the end of the year as the country seeks to quadruple green power generation by 2020.
ASX said on Thursday it hoped to list futures and options contracts on Renewable Energy Certificates (RECs) before the year-end as demand grows for RECs to offset greenhouse gas emissions and as consumers seek greener energy.
“We’re just waiting for final regulatory approval but expect to make an announcement shortly,” David Kresvan, ASX’s manager of energy and environmental markets, told Reuters.
In Australia, RECs are a form of currency that can be earned by installing solar panels, wind turbines and micro-hydro plants. Each REC represents one megawatt hour (MWh) of electricity generated from renewable energy and can be traded once registered. http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSSP53326920090917
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