NSW GGAS scheme failed its key objective, which was to reduce the greenhouse intensivity of electricity industry in NSW

First 11 of 11 paragraphs shown The Bill to close GGAS was"driving up the price of certificates for (electricity) retailers without careful consideration and any analysis having been presented to the House or to the people of New South Wales of the cost implications" Dr John Kaye, NSW Greens told the Legislative Council, 17 June 2009.
University of New South Wales analysis: Kaye argued analysis from the University of New South Wales accurately showed:
- a large percentage of the greenhouse gas emission abatement certificates actually came from outside New South Wales;
- In the period 2003-05, 33 per cent of the certificates were from projects outside New South Wales;
- half the emission reductions in this State in 2003-05 were outside the electricity sector;
- Biosequestration made up about 4.3 per cent;
- methane avoidance made up at least 47 per cent.
Failed its objective: Kaye told the House "Only a relatively small amount of reduction of greenhouse gas intensivity within the electricity sector was as a result of the GGAS scheme. It did not even set out to address its key objective, which was to reduce the greenhouse intensivity of the electricity industry in New South Wales".
Government failed to consult retailers: "The bill should not have been rushed through and retailers should have been more widely consulted. They are likely now to face a reduction in the number of certificates available to them and hence an increased price. We are driving up the price of certificates for retailers without careful consideration and any analysis having been presented to the House or to the people of New South Wales of the cost implications".
Who will get compo?: Kaye questioned an implication of "Compensation for categories B, C and D participants—in particular, I imagine, category B participants, the large coal-fired generators in New South Wales, which seem to have enormous sway over the process".
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