Market forecast for Friday, 21 September: Average prices up 8pc in Tas, down 4-6pc in NSW, Vic, SA and Qld to $51.87-$60.93/MWh range on falling demand

Average prices are expected to rise 8 per cent in Tasmania and fall 4-6 per cent in NSW, Victoria, South Australia and Queensland to a range of $51.87-$60.93/MWh. System-wide maximum demand is predicted to be down 985MW (3.6 per cent) to 26,253MW, with falls in all regions. The forecast temperature ranges for the NEM capitals are: Sydney 12-21 degrees (16-19 on Thursday); Melbourne 9-19 degrees (10-16); Adelaide 7-22 degrees (7-18); Brisbane 13-24 degrees (13-30); and Hobart 8-15 degrees (9-16).

Market report for Thursday, 20 September: Average prices up 6-32pc to $54.24-$57.70/MWh range on demand surge: One-interval spike in Qld

Average prices rose 6-32 per cent to a range of $54.24-$57.70/MWh. System-wide maximum demand jumped 1080MW (4.1 per cent) to 27,238MW, with rises in all regions, led by a 565MW increase in NSW. Top price of the day was a one-interval spike to $124.76/MWh in Queensland for the 30-minute trading interval ended 1600EST. NSW had the highest average price and South Australia the lowest. Temperature ranges in the NEM capitals were: Sydney 16-19 degrees (11-22 on Wednesday); Melbourne 10-16 degrees (12-19) Adelaide 7-18 degrees (14-19); Brisbane 13-30 degrees (13-25); and Hobart 9-16 degrees (10-21).

Thursday, 20 September: Qld spike to $124.76/MWh in one afternoon trading interval

Queensland recorded a spike of $124.76/MWh in the 30-minute trading interval ended 1600EST on Thursday, 20 September.

Preference negotiations between Labor and Greens to have a significant impact on federal election; Greens want all of Labor’s preferences in Senate

Preference negotiations be­tween Labor and the Greens, which could have a significant im­pact on the federal election, were growing increasingly fractious, reported The Sydney Morning Herald (11/9/2007, p.6).

Security in United States now so onerous wealthy Australian business owners fly to US on commercial aircraft and then charter private jets

The 91-year-old Whitlam reportedly refused to fly during the Asia-Pacific Economic Co-operation meetings this month because of the inconvenience of extra security screening procedures, according to Ann-Maree Moodie in The Australian Financial Review (20/9/2007, p.8).

Victoria’s desal a public-private partnership; five firms line-up for $1.6b bonanza of guaranteed cash-flow

According to Duncan Hughes, at least half of Victoria’s $3.1 billion desalination plant, the country’s largest, would be delivered as a public-private partnership, Victorian Premier John Brumby said on 19 September, reported The Australian Financial Review (20/9/2007, p.3).

SP AusNet close to buying entire suite of energy transmission assets Singapore Power acquired as a partner in the $8 billion Alinta carve-up

SP AusNet was close to buying the entire suite of energy transmission assets Singapore Power acquired as a partner in the $8 billion Alinta carve-up with investment company Babcock & Brown earlier this year, according to Vesna Poljak in The Australian Financial Review (20/9/2007, p. 17).

UQ starts course on-mined land rehabilitation as part of Masters of Mineral Resources: Alcoa gets a gong

When mining environmental scientist Elise Jeffery looks across a denuded landscape at Alcoa’s brown-coal mine in Anglesea, Victoria, she pictures an expanse of healthy indigenous woodland replete with rare and threatened plants and animals. But since 2000 Alcoa has engaged in restoring mined land to its original ecosystem to complement the surrounding area, listed on the National Estate Register by the Australian Heritage Commission because of its outstanding botanical diversity, wrote Helen Zampetakis in The Australian Financial Review (17/9/2007, p.35).

16 September: Blackouts in South Australia

Powerlines were cut and trees uprooted as strong winds swept South Australia on 16 September, reported The Advertiser (17/9/2007).

Labor cries foul on Govt’s electoral enrolment changes: even after AEC’s campaign at least 100,000 people will not be enrolled and will lose their vote

The Review of certain aspects of the administration of the Australian Electoral Commission report made some reasonable and not very controversial recommendations about the administration of the AEC, ALP MP Michael Danby told Federal Parliament on 17 September 2007. He said he was sure that an incoming government would give them due consideration but that the early close of enrolment period was opposed by Labor.

Queensland Rail panic: Pacific National to sign two coal contracts with Xstrata and Rio Tinto and break QR’s freight monopoly

Queensland Rail would outline a radical new corporate structure by month’s end that will include partnerships with the private sector in its $1.5 billion-a-year freight operations, according to Adele Ferguson in The Australian (12/9/2007, p.39).

New Queensland Deputy Premier and Treasurer elected unopposed: but conflict – as Bligh’s partner, Greg Withers acts as Premier’s executive director of policy

Queensland Deputy Premier and Treasurer Anna Bligh was to be elected unopposed at a caucus meeting on 11 September, ensuring outgoing leader Peter Beattie was granted his final wish as premier, reported The Australian Financial Review (12/9/2007, p.4).

South Korean power producers agree on thermal coal contract prices of $US66 a tonne, for 2008-09

There were already reports that South Korean power producers have agreed thermal coal contract prices of $US66 a tonne for 2008-09, seven months before the 1 April start of the next Japanese financial year, reported Stephen Wisenthal on The Australian Financial Review (17/9/2007, p.16).

Proposals to abolish domestic-use off-peak electricity unlikely to produce any short-term greenhouse savings, energy consultant says

Duncan Seddon, an independent consultant in the energy sector, wrote in The Australian Financial Review (20/9/2007, p. 71) that in order to run a coal-fired power station efficiently (thereby minimising greenhouse gas emissions), the boilers were run constantly at high rates. The boilers and coal usage were not turned down if electricity was not wanted, for example between midnight and 6am.

Rating agencies do double-take: In July Standard and Poor’s, Moody’s and Fitch downgrade hundreds of CDOs from A+ and BB to as low as CCC pushing them into junk status

But there are some curious default probabilities in S&P’s latest CDO model, released in mid-2006, which seem to suggest that historic or “idealised” defaults differ widely for corporate bonds, asset-backed securities and CDOs with the same rating, reported The Australian Financial Review (20/9/2007, p.68).

Thirty-five local councils bought Federation, a Lehman Brothers CDO rated AAA by S&P and marketed by Grange Securities, which tracks the US sub-prime mortgage index

According to Janne Gray in The Australian Financial Review (20/9/2007, p.68), thirty-five local councils (not including Corowa) bought Federation, a Lehman Brothers CDO rated AAA by S&P and marketed by Grange Securities, which tracks the US sub-prime mortgage index.

Conflicts of interest; rating given to a CDO will determine whether it is created – if the CDO is created, the rating agency will be paid for its ratings

Ultimately, rating agencies may have to do more to address the conflicts of interest implicit in their business models, reported The Australian Financial Review (20/9/2007, p.69).

Russian enriched uranium fuel ready to be shipped to Iran’s first nuclear power plant after pay dispute resolved

Enriched uranium fuel was ready to be shipped from Russia to Iran’s first nuclear power plant, it was re­ported on the weekend, noted The Advertiser (17/9/2007, p.28).

Vic SOG officers wary of forced-entry raid that led to shooting death, coroner hears

Special Operations Group police officers involved in a dawn raid on a Brooklyn house in 2005 expressed misgivings about the operation before a man was fatally shot in the house, a court heard, reported The Age (13/9/2007, p.9).

Euro-denominated junk-bond market has closed down com­pletely with not one issue re­corded this month

The high-yield market has suffered as investors became increasingly risk-averse reported The Australian (24/8/2007, p. 30).

Market report for Wednesday, 19 September: Average prices up 1.14pc in NSW, Vic, SA and Tas, down 5pc in Qld to $42.24-$53.37/MWh on easing demand

Average price rose 1-14 per cent in NSW, Victoria, South Australia and Tasmania and fell 5 per cent in Queensland to a range of $42.24-$53.37/MWh. System-wide maximum demand was down 351MW (1.3 per cent) to 26,158MW, with falls in all regions except Victoria. Top price of the day was the $62.29/MWh in Tasmania for the 30-minute trading interval ended 1630EST. Tasmania had the highest average price and Queensland the lowest. Temperature ranges in the NEM capitals were: Sydney 11-22 degrees (14-20 on Tuesday); Melbourne 12-19 degrees (7-21); Adelaide 14-19 degrees (9-26); Brisbane 13-25 degrees (13-25); and Hobart 10-21 degrees (5-21).

Market forecast for Thursday, 20 September: Average prices up 7-18pc to $47.17-$57.06/MWh range on firmer demand

Average prices are expected to rise 7-18 per cent to a range of $47.17-$57.06/MWh. System-wide maximum demand is predicted to be up 272MW (1.0 per cent) to 26,430MW, with rises in all regions except Victoria. The forecast temperature ranges for the NEM capitals are: Sydney 14-21 degrees (11-22 on Wednesday); Melbourne 10-16 degrees (12-19); Adelaide 9-18 degrees (14-19); Brisbane 12-30 degrees (13-25); and Hobart 9-16 degrees (10-21).

Aus Govt energy fear: China locking-up resources by long-term contracts, bypassing market

The Australian Government was concerned that the shortfalls in supply of oil and other energy resources may prompt countries like China to lock up access to supplies through long-term contracts, reported The Sydney Morning Herald (3/9/2007, p.2).

India’s continuing absence from APEC a serious gap; a ‘future engine’ of global economy, says Aus Chamber of Commerce chief

India’s continuing absence from APEC was a serious gap in its membership, and one that should be remedied by APEC leaders, said Peter Hardy, chief executive of the Australian Chamber of Commerce and Industry, in The Australian Financial Review (3/9/2007, p.B15).

Locals see British forces as ‘defeated’ in Basra, not ‘withdrawing’, says ICG Iraq analysis

Britain had 45,000 troops in Iraq during the invasion and a peak of 18,000 in the occupation, reported The Australian (4/9/2007, p.13).

$3 billion Queensland, Cape York ACCA bauxite and alumina project formally declared a significant project

The $3 billion Aluminium Corporation of China Aurukun bauxite and alumina project was formally declared a significant project by the State Government, reported The Courier Mail (8/8/2007, p. 40).

Rocket attack prompts Israel’s Deputy Prime Minister to threaten to cut off water and power supplies to besieged Gaza Strip

Israel’s Deputy Prime Minister had threatened to cut off water and power supplies to the besieged Gaza Strip after three Palestinian missiles exploded in the Israeli town of Sderot, reported The Age (5/9/2007, p. 12).

Chairman of the US House of Reps Committee on Foreign Affairs writes to the Indian Prime Minister, Manmohan Singh – demands India disconnect, from Iran

Robert McClelland, Member for Barton, Australian Labor Party, House of Representatives, Commonwealth asked Alexander Downer, Minister for Foreign Affairs, Member for Mayo, Liberal Party of Australia, in the House of Representatives, Commonwealth, 11 September 2007 if the reports that the Chairman of the US House of Representatives Committee on Foreign Affairs, Mr Tom Lantos, had written to the Indian Prime Minister, Manmohan Singh, demanding that India cease cooperating with Iran in the military and energy spheres.

Biofuel feedstock: only real waste-biomass we have is urban waste, otherwise dumped in landfill, says enviro consultant

Straw and grass have been suggested as good feedstock for biofuel plants, but were they really waste?, asked Dr Peter Wylie, a researcher and consultant specialising in environmental issues, in The Courier Mail (1/9/2007, p.58).

Aus legal duty of confidentiality extends to those who “happen to come across” information

In Australia, the law relating to confidential information became well-established over the past 40 years, and it was now settled that a legal duty of confidence was not limited to a person who received information confidentially, reported The Courier Mail (4/9/2007, p.18).