THE Federal Government is to wind back generous subsidies for home solar electricity panels in a move welcomed by the industry as providing long-term certainty.
Climate Change Minister Greg Combet said the level of subsidy would be reduced faster than previously planned in response to an escalating take-up of solar panels.
That will take the level of subsidy from a peak of about $6200 up to June 30 this year, to about $1200 for a basic 1.5kw system after July 1, 2013.
Mr Combet deemed the move necessary because soaring demand for panels was pushing up power prices and reducing demand for other clean-energy technology.
Australian Solar Energy Society CEO John Grimes welcomed this move: "Solar companies have had enough of the roller-coaster ride brought about by constant policy changes. The roller coaster ride needs to slow down and stop."
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Prices still too low, says Alumina
ALUMINA says that despite a 28 per cent jump in alumina prices over the past year, prices are still too low.
It also says the strong Australian dollar and higher energy prices are constraining group performance.
Chairman Don Morley said margins for the commodity were tighter than they should be and its price did not reflect the economics of producing and selling it.
He said China had been able to expand alumina and aluminium production capacity to meet demand, which had limited price increases.
Alumina chief John Bevan told shareholders global demand for aluminium was expected to expand by 12 per cent this year due to China-fuelled growth.
The company has a 40 per cent stake in Alcoa World Alumina and Chemicals, the world's biggest alumina business. Alumina shares were up 2c at $2.28.
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