CoolPass: Carbon Price will offer investment certainty to power industry, says Australian PM.

March 8, 2011 - PRLog -- Australian Prime Minister Julia Gillard has told reporters that a price on carbon emissions will help provide the electricity industry with the certainty required to increase investment.

There has been much underinvestment in power generation and distribution which means power prices are increasing she said in Melbourne.

"A big problem with getting the investment into electricity that we need is the uncertainty about carbon pricing" for investors, CoolPass understands Gillard said. "Carbon pricing will give them the certainty that they need to invest."

The Prime minister added that electricity prices would increase whether there is a carbon price or not.

Gillard has recently been defending her minority Labor government’s two-stage plan to begin a carbon pricing scheme in Australia from 1 July, 2012, as previously reported by CoolPass. The carbon price and which industries will be affected by the scheme have yet to be determined.

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