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Green energy scheme ‘a fraud’

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The  Sydney Morning Herald reports that KEVIN RUDD’S environmental agenda is under attack on two fronts, with the country’s biggest private renewable energy business declaring his green power target at risk of failure.

As criticism of the emissions trading scheme grows bolder after the fractured Copenhagen summit, AGL has labelled the administration of the the renewable energy target a fraud.

To encourage investment, energy companies receive renewable energy certificates in return for building green power stations. But the value of these certificates has almost halved, from near $60 to about $30 since the Government began issuing them to consumers who install solar hot water systems and other products that do not generate power.

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