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	<title>Lear &#38; Smith</title>
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	<link>http://www.learsmith.com.au</link>
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		<title>The new 3M PL150 Portable Labeller</title>
		<link>http://www.learsmith.com.au/news/the-new-3m-pl150-portable-labeller</link>
		<comments>http://www.learsmith.com.au/news/the-new-3m-pl150-portable-labeller#comments</comments>
		<pubDate>Wed, 16 May 2012 01:43:29 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Products]]></category>
		<category><![CDATA[3M Labeller]]></category>
		<category><![CDATA[3M PL150]]></category>
		<category><![CDATA[electrical newcastle]]></category>
		<category><![CDATA[electrical news]]></category>
		<category><![CDATA[lear & smith]]></category>
		<category><![CDATA[lear and smith]]></category>
		<category><![CDATA[new portable labeller]]></category>
		<category><![CDATA[PL150]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=599</guid>
		<description><![CDATA[Affordable, durable and loaded with professional features that save valuable time on the job. The new 3M PL150 is a compact, rugged tool for fast, on-site creation of labels that last in challenging industrial environments. Features: An all-new ‘QWERTY’ style keypad (same key layout as your computer), for fast, intuitive content input. One-touch formatting keys [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" title="PL150" src="http://www.jrt.com.au/wp-content/uploads/2012/04/PDL150.jpg" alt="" width="178" height="231" /><strong>A</strong><strong>ffordable, durable and loaded with professional features that save valuable time on the job.</strong></p>
<p><strong></strong>The new 3M PL150 is a compact, rugged tool for fast, on-site creation of labels that last in challenging industrial environments.</p>
<p><em>Features:</em></p>
<ul>
<li>An all-new ‘QWERTY’ style keypad (same key layout as your computer), for fast, intuitive content input.</li>
<li>One-touch formatting keys make setting up common label formats a breeze, saving even more time on-site.</li>
<li>‘Favourites’ function provides single-key access to frequently used labels, symbols and terms – eliminating repeated input &amp; setup.</li>
<li>Integrated rubber bumper absorbs the knocks on the job, day after day.</li>
<li>Accepts industrial-grade 3M label cartridges up to 19mm wide, including heat-shrink tube cartridges.</li>
</ul>
<p>Available now in all <a href="http://www.learsmith.com.au/locations">Lear&amp;Smith</a> branches.</p>
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		<item>
		<title>NBN Roll Out Coming Your Way…</title>
		<link>http://www.learsmith.com.au/news/nbn-roll-out-coming-your-way</link>
		<comments>http://www.learsmith.com.au/news/nbn-roll-out-coming-your-way#comments</comments>
		<pubDate>Wed, 16 May 2012 01:36:19 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[National Broadband Network]]></category>
		<category><![CDATA[NBN]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=596</guid>
		<description><![CDATA[As reported by Matchmaster below is a list of communities displaying the different stages of work of the National Broadband Network – communities that have NBN services available, suburbs where work has commenced and the areas in Australia where work on the NBN will commence within one year. For communities that are included in the three year [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px; margin: 5px;" title="NBN cable" src="http://www.jrt.com.au/wp-content/uploads/2012/05/NBN_cable.jpg" alt="" width="250" height="208" />As reported by <a href="http://matchmaster.com.au/_blog/Industry_News/post/Communities_in_the_rollout/" target="_blank">Matchmaster</a> below is a list of communities displaying the different stages of work of the National Broadband Network – communities that have NBN services available, suburbs where work has commenced and the areas in Australia where work on the NBN will commence within one year.</p>
<p>For communities that are included in the three year rollout plan, download the PDF.<br />
<a href="http://nbnco.com.au/assets/documents/q-s/rollout-plan-mar12-detailed-map-release-date-3year.pdf">Rollout plan – 1 April 2012 to 30 June 2015 (PDF – 700 KB)</a></p>
<p>This list provides the estimated likely coverage are based on our rollout schedule, which may change following more detailed planning and design work. See the full list of one year rollout information at the <a href="http://nbnco.com.au/rollout/about-the-rollout/communities-in-the-rollout.html" target="_blank">NBNCo website</a></p>
<p>For more information on the roll out of the NBN or Digital TV roll outs  please visit the <a href="http://www.matchmaster.com.au/" target="_blank">Matchmaster website</a>.</p>
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		<item>
		<title>NSW may have a shortage of natural gas within the next 2 years!</title>
		<link>http://www.learsmith.com.au/news/gas_shortage</link>
		<comments>http://www.learsmith.com.au/news/gas_shortage#comments</comments>
		<pubDate>Tue, 15 May 2012 23:57:57 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[gas shortage]]></category>
		<category><![CDATA[gas shortages emerging]]></category>
		<category><![CDATA[gas supplies]]></category>
		<category><![CDATA[mining news]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=590</guid>
		<description><![CDATA[The NSW State Government has warned of gas shortages emerging in NSW within the next two years as it puts its weight behind coal seam gas to help the shortages.  Large numbers of Nationals and Liberal Party MPs are opposed to allowing the widespread use of coal seam gas due to environmental concerns, especially over [...]]]></description>
			<content:encoded><![CDATA[<p><strong>The NSW State Government has warned of gas shortages emerging in NSW within the next two years as it puts its weight behind coal seam gas to help the shortages. </strong></p>
<p><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" src="http://t0.gstatic.com/images?q=tbn:ANd9GcSn3ZPcu_k4od8TY1NPGi6ePbzS51oFKisQbf6G7rVaeC_olnspow" alt="" width="275" height="183" />Large numbers of Nationals and Liberal Party MPs are opposed to allowing the widespread use of coal seam gas due to environmental concerns, especially over the likely impact in farming areas.</p>
<p>At the same time, oil and gas reserves in the Bass Strait, are running out, which will place further pressure on NSW to find additional sources of gas.</p>
<p>The warnings come as the power industry is moving to use gas to replace coal as its preferred source of energy to generate electricity as a result of the carbon tax which is to begin from midyear and may make it uneconomic to use coal.</p>
<p>In the submission, the NSW government has endorsed this shift, saying that using gas to generate electricity is likely to emerge as the ”transition option to a low carbon economy”.</p>
<p>As a result, gas demand might triple over the next two decades, it said, which would place additional stress on existing gas supplies and drive the need for new sources to be found and developed, the state government said.</p>
<p>Long-term contracts to supply gas to NSW, principally from the Cooper Basin in central Australia, begin expiring from 2014, with large additional volumes of gas needed from around 2016 and 2017, at a time when the boom in export gas projects in Queensland will leave NSW gas consumers increasingly at risk, unless large additional sources of gas are found.</p>
<p>(Source: <a href="http://www.smh.com.au/environment/energy-smart">http://www.smh.com.au/environment/energy-smart</a>)</p>
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		<item>
		<title>Pierlite Centrina LED</title>
		<link>http://www.learsmith.com.au/news/pierlite-centrina-led</link>
		<comments>http://www.learsmith.com.au/news/pierlite-centrina-led#comments</comments>
		<pubDate>Tue, 15 May 2012 23:53:55 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[Branch News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Energy saving lights]]></category>
		<category><![CDATA[LED]]></category>
		<category><![CDATA[LED lamps]]></category>
		<category><![CDATA[LED lights]]></category>
		<category><![CDATA[Pierlite]]></category>
		<category><![CDATA[save energy]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=586</guid>
		<description><![CDATA[The new Centrina LED is a cost effective, wall mounted bulkhead using energy efficient LEDs. The Centrina LED is ideal to use for security lighting around schools, hospitals, public buildings and industrial sites. Features and Benefits: LED technology with integral driver offer 50,000 hours life and low maintenance Hinged prismatic lens with diffuser gives a [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright" title="Centrina LED" src="http://www.pierlite.com/data/content/33670_m.jpg" alt="" width="200" height="200" /></p>
<p>The new Centrina LED is a cost effective, wall mounted bulkhead using energy efficient LEDs. The Centrina LED is ideal to use for security lighting around schools, hospitals, public buildings and industrial sites.</p>
<div>
<p><strong>Features and Benefits:</strong></p>
<ul>
<li>LED technology with integral driver offer 50,000 hours life and low maintenance</li>
<li>Hinged prismatic lens with diffuser gives a downward asymmetric distribution</li>
<li>Robust polycarbonate lens and die-cast aluminium body</li>
<li>Easy to install with multiple cable entry options</li>
<li>Integral seal offers IP54 weather protection</li>
</ul>
<div>For more information on the new Centrina LED please contact your local <a href="http://www.learsmith.com.au/locations">Lear &amp; Smith Branch</a>.</div>
<p>&nbsp;</p>
</div>
]]></content:encoded>
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		</item>
		<item>
		<title>Lufkin Fibreglass Long Tapes</title>
		<link>http://www.learsmith.com.au/news/lufkin-fibreglass-long-tapes</link>
		<comments>http://www.learsmith.com.au/news/lufkin-fibreglass-long-tapes#comments</comments>
		<pubDate>Tue, 13 Mar 2012 23:40:01 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Products]]></category>
		<category><![CDATA[200 foot tape measure]]></category>
		<category><![CDATA[50 foot tape measure]]></category>
		<category><![CDATA[Cooper Tools]]></category>
		<category><![CDATA[Lufkin]]></category>
		<category><![CDATA[Tape Measure]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=569</guid>
		<description><![CDATA[Make short work of long measurements…  Introducing the updated line of Lufkin fiberglass long tapes. A broad line that’s long on features… The broad line of Lufkin fiberglass tapes offers you an unmatched choice of lengths and blade styles, so you can have the tape that’s perfect for the job you do. Whether you need [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Make short work of long measurements… </strong></p>
<p><strong><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" title="Lufkin Tape Measure" src="http://www.rexel.com.au/wp-content/uploads/2012/02/lufkin_tape.png" alt="" width="120" height="149" /></strong></p>
<p>Introducing the updated line of Lufkin fiberglass long tapes. A broad line that’s long on features…</p>
<p>The broad line of Lufkin fiberglass tapes offers you an unmatched choice of lengths and blade styles, so you can have the tape that’s perfect for the job you do. Whether you need a 50-foot standard, a 200-foot engineer’s, or a 100 meter two-sided metric/English tape, we have it. With Lufkin, you never have to compromise.</p>
<p>Lufkin fiberglass long tapes feature a strong, yet lightweight four-arm open frame design that protects the blade and sheds mud and dirt.</p>
<p>The yellow clad fiberglass blade is impervious to moisture. The handle of every tape has an extra-wide cushion grip for all-day comfort, and a large ring opening, so holding it is easy, even if you’re wearing gloves.</p>
<p>The Hi-Viz® orange case is easy to find on the job site and its light weight case is easy to handle and rewind. The end hook folds back for true-zero measurements. Smooth, kink-resistant blades wipe clean easily.</p>
<p>For more information simply contact your local <a href="http://www.learsmith.com.au/locations">Lear &amp; Smith Branch</a> today.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>Australia’s Truly Universal Mech – Clipsal 30USM</title>
		<link>http://www.learsmith.com.au/news/30usm-2</link>
		<comments>http://www.learsmith.com.au/news/30usm-2#comments</comments>
		<pubDate>Tue, 13 Mar 2012 23:26:23 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Products]]></category>
		<category><![CDATA[16AX fluorescent loads]]></category>
		<category><![CDATA[20A capacity mechanism]]></category>
		<category><![CDATA[clipsal]]></category>
		<category><![CDATA[Universal Mechanism]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=565</guid>
		<description><![CDATA[You could be forgiven for thinking that every possible enhancement and innovation has been eked out of this remarkable design. However, not so. The engineering team at Clipsal’s head office in Gepps Cross, South Australia has now introduced a new model to the 30 Mech family, the 30USM (Universal Switch Mechanism). The new 30USM has [...]]]></description>
			<content:encoded><![CDATA[<p>You could be forgiven for thinking that every possible enhancement and innovation has been eked out of this remarkable design. However, not so. The engineering team at Clipsal’s head office in Gepps Cross, South Australia has now introduced a new model to the 30 Mech family, the 30USM (Universal Switch Mechanism).</p>
<table width="200" border="0" cellspacing="0" cellpadding="0" align="right">
<tbody>
<tr>
<td><strong><br />
</strong></td>
</tr>
<tr>
<td><img style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" title="Australia's truly universal mech - 30USM" src="http://www.clipsal.com/trade/__data/page/9410/img_universal_mech_30USM.jpg" alt="" width="170" height="145" /></td>
</tr>
</tbody>
</table>
<p>The new 30USM has a whopping 20A capacity and can switch fluorescent loads up to 16AX as well as increased performance in high short circuit conditions, which makes it a truly universal switch mechanism and ideal for any application.</p>
<p>The team has also introduced a deep contact action and 3mm air gap within the mechanism. This eliminates visible arcing and “crackling”, preventing carbon deposits on the dolly (switch) and aperture. Not to mention an independent “snap” action of the dolly bridge that stops the switch from being partially turned on or off.</p>
<p>Cathryn Blair, Clipsal Marketing Operations Manager says that the combination of new features and modular 30 Mechanism design gives         electrical contractors a flexible switch solution.</p>
<blockquote><p>“The huge switching capacity and modular design of the 30USM provides contractors with a convenient and flexible switch solution, which can be used across many applications. The great advantage of this is that contractors only need to carry one switch mechanism, preventing the need to carry several switch mechanisms for different applications.”</p></blockquote>
<p>&nbsp;</p>
<p><em>(Source:<a href="http://www.clipsal.com/trade/news">http://www.clipsal.com/trade/news</a>)</em></p>
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		<item>
		<title>Auto Manufacturers use the Solar Path</title>
		<link>http://www.learsmith.com.au/news/auto-manufacturers-use-the-solar-path</link>
		<comments>http://www.learsmith.com.au/news/auto-manufacturers-use-the-solar-path#comments</comments>
		<pubDate>Tue, 14 Feb 2012 04:37:33 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[electrical hunter valley]]></category>
		<category><![CDATA[electrical wholesaler]]></category>
		<category><![CDATA[electrical wholesaler Newcastle]]></category>
		<category><![CDATA[energy news]]></category>
		<category><![CDATA[solar panel]]></category>
		<category><![CDATA[solar power]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=549</guid>
		<description><![CDATA[Last year Toyota UK announced that they were seeking approval for a  ground-mounted solar array that will include 17,000 solar panels. Once approved and complete the solar installation will offset about 5% of the electricity demand of its plant in Burnaston and will prevent 45,000 tons of CO2 from going into the atmosphere in its lifetime. [...]]]></description>
			<content:encoded><![CDATA[<div>
<img class="alignright" title="The Solar Path" src="http://www.rexel.com.au/wp-content/uploads/2012/02/toyota_factory.png" alt="" width="210" height="160" />Last year Toyota UK announced that they were seeking approval for a  ground-mounted solar array that will include 17,000 solar panels. Once approved and complete the solar installation will offset about 5% of the electricity demand of its plant in Burnaston and will prevent 45,000 tons of CO2 from going into the atmosphere in its lifetime.</p>
<p>Toyota Deputy Managing Director, Tony Walker, commented:</p>
<blockquote><p>“Using solar power to supply electricity to the plant underlines our commitment to the UK’s low-carbon economy and our own ambitions to further reduce our carbon footprint.”</p></blockquote>
<p>And now it looks as though Honda and BMW are following suit. Honda has been installing solar power generation systems at its operations in locations around Japan, reaching a total capacity of 3.3 megawatts. Not only that but Honda says it will install 2.6-megawatt Soltec system at its new Yorii Plant, which Honda says will be the largest solar power generation system installed at an auto-mobile facility in Japan.</p>
<p>BMW has also taken the solar path, having recently completed installing 400 solar modules, each with a 240 watt capacity, at BMW’s Manufacturing’s heritage museum and visitor’s center. The $500,000 solar power system provides all the electricity required to run the Museum and will also be powering three new electric vehicle charging stations throughout the main facility.</p>
</div>
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		<item>
		<title>Lifesaver 9V Carbon Monoxide Alarm – Part No. LIFCO9</title>
		<link>http://www.learsmith.com.au/news/co2</link>
		<comments>http://www.learsmith.com.au/news/co2#comments</comments>
		<pubDate>Tue, 14 Feb 2012 04:23:05 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Products]]></category>
		<category><![CDATA[co2 detector]]></category>
		<category><![CDATA[electrical news]]></category>
		<category><![CDATA[electrical wholesaler]]></category>
		<category><![CDATA[energy news]]></category>
		<category><![CDATA[industry news]]></category>
		<category><![CDATA[lear and smith]]></category>
		<category><![CDATA[psa]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=542</guid>
		<description><![CDATA[What is Carbon Monoxide? Carbon Monoxide is a colourless, tasteless and odourless gas that is produced when fossil fuels such as coal, oil, natural gas, LPG, charcoal and wood are not burnt efficiently. It can be produced from poorly maintained or badly fitted domestic heating appliances such as boilers, wall heaters, wood burners, blocked flues [...]]]></description>
			<content:encoded><![CDATA[<p><strong>What is Carbon Monoxide?</strong><br />
Carbon Monoxide is a colourless, tasteless and odourless gas that is produced when fossil fuels such as coal, oil, natural gas, LPG, charcoal and wood are not burnt efficiently. It can be produced from poorly maintained or badly fitted domestic heating appliances such as boilers, wall heaters, wood burners, blocked flues or exhaust vents.</p>
<p><img class="alignright" style="border-style: initial; border-color: initial;" title="CO2 Detector" src="http://www.rexel.com.au/wp-content/uploads/2012/02/co2_detector.png" alt="" width="150" height="203" /></p>
<p><strong>What are the symptoms?</strong><br />
The symptoms of CO poisoning include headaches, sickness, tiredness and muscle pain, all of which can be misdiagnosed as the flu. It is therefore important to protect your family and home with a Carbon Monoxide Alarm.</p>
<p><strong>Description</strong><br />
The PSA Lifesaver LIFCO9 alarm protects against the dangers of deadly carbon monoxide levels in the home and provides continuous monitoring of CO levels.</p>
<p>This alarm can be installed on a wall, or as a tabletop unit for added convenience. The PSA Lifesaver LIFCO9 units are easy to install and provide reliable protection against the dangers of carbon monoxide.</p>
<p>These alarm units benefit from a small, sleek design that is suitable for all living areas. They have a 7-year sensor life, providing up to 40% longer protection than many other CO alarms currently available.</p>
<p><strong>Specs:</strong></p>
<ul>
<li>Battery Operated: 3 x AA included</li>
<li>Dimensions (in mm): 126(w) x 72(h) x 35 (d)</li>
<li>2 LEDs: Red – alarm condition</li>
<li>Green – DC power is present, normal operation</li>
<li>Test/reset button</li>
<li>Temperature: 4 to 38oC (-10 to 60oC for storage or transport)</li>
<li>Humidity: 10 to 95% (RH)</li>
<li>Lifespan: 7 years</li>
<li>Warranty: 5 years</li>
<li>Low battery signal: alerts when the battery needs replacing</li>
</ul>
<p style="text-align: center;"><strong>For more information contact your local branch TODAY!</strong></p>
<p><em>(Source: <a href="http://www.psaproducts.com.au/">http://www.psaproducts.com.au/</a>)</em></p>
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		<title>ABB Acquires Darwin company Powercorp</title>
		<link>http://www.learsmith.com.au/news/abb-acquires-darwin-company-powercorp</link>
		<comments>http://www.learsmith.com.au/news/abb-acquires-darwin-company-powercorp#comments</comments>
		<pubDate>Sun, 08 Jan 2012 22:58:11 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[ABB]]></category>
		<category><![CDATA[automation technology]]></category>
		<category><![CDATA[electrical hunter valley]]></category>
		<category><![CDATA[electrical newcastle]]></category>
		<category><![CDATA[electrical news]]></category>
		<category><![CDATA[energy news]]></category>
		<category><![CDATA[industry news]]></category>
		<category><![CDATA[lear & smith]]></category>
		<category><![CDATA[lear and smith]]></category>
		<category><![CDATA[Powercorp]]></category>

		<guid isPermaLink="false">http://www.learsmith.com.au/?p=507</guid>
		<description><![CDATA[ABB, the leading power and automation technology group, has agreed to acquire Powercorp, an Australian renewable power automation company. This acquisition strengthens ABB’s portfolio of control technologies used to manage the integration of renewable energy sources. Darwin based Powercorp employs around 30 people and offers automation and intelligent control solutions to manage renewable energy generation [...]]]></description>
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<p><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" title="ABB" src="http://www.jrt.com.au/wp-content/uploads/2012/01/abb.jpg" alt="" width="200" height="78" />ABB, the leading power and automation technology group, has agreed to acquire Powercorp, an Australian renewable power automation company. This acquisition strengthens ABB’s portfolio of control technologies used to manage the integration of renewable energy sources.</p>
<p>Darwin based Powercorp employs around 30 people and offers automation and intelligent control solutions to manage renewable energy generation in isolated grids, ensuring utility grade power quality and grid stability. This enables very high levels of wind and solar power penetration into isolated diesel powered grids, thus reducing emissions and dependency on fossil fuel.</p>
<p>“Powercorp brings expertise for the integration of renewable energy generation into conventional micro and remote island grids,” said Peter Leupp, head of ABB’s Power Systems division. “This bolt-on acquisition will add specialist know-how and solutions to our control systems offering and further strengthen our position in the renewable space.”</p>
<p>Powercorp has installed several systems to integrate renewable power into remote grids and keep generation in balance with consumption. The company also supplies systems that dynamically store and release energy in response to frequency and voltage deviations, to stabilize small or remote grids.</p>
<p>“Joining forces with ABB is a logical next step for the growth of our business,” said Alan Langworthy CEO of Powercorp. “It will expand our global reach and help create optimal solutions for higher and better use of renewable energy generation.”</p>
<p>The transaction is expected to close before year end. criticise</p>
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		<title>Loy Yang Power in Debt $565 Million and Still Trading</title>
		<link>http://www.learsmith.com.au/news/loy-yang-power-in-debt-565-million-and-still-trading</link>
		<comments>http://www.learsmith.com.au/news/loy-yang-power-in-debt-565-million-and-still-trading#comments</comments>
		<pubDate>Sun, 08 Jan 2012 22:08:00 +0000</pubDate>
		<dc:creator>farida.oemar</dc:creator>
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		<guid isPermaLink="false">http://www.learsmith.com.au/?p=501</guid>
		<description><![CDATA[Loy Yang Power has been given the OK by the government to keep trading after declaring debt of approximately $565 million.  Australian Securities and Investments Commission was notified of the current situation that Loy Yang Power was in November and since has not issued a “no action” cease trade notification. The government conducted a report that [...]]]></description>
			<content:encoded><![CDATA[<p><strong>Loy Yang Power</strong> has been given the OK by the government to keep trading after declaring debt of approximately $565 million.  Australian Securities and Investments Commission was notified of the current situation that Loy Yang Power was in November and since has not issued a “no action” cease trade notification.</p>
<p><strong><img class="alignright" style="border-style: initial; border-color: initial; border-image: initial; border-width: 0px;" title="Loy Yang Power in debt" src="http://www.jrt.com.au/wp-content/uploads/2012/01/Loy_Yang.jpg" alt="" width="200" height="144" /></strong></p>
<p>The government conducted a report that predicted that in the event that Loy Yang Power was to close, wholesale electricity prices would nearly double which would directly affect household power costs. The report found that the estimated power prices would increase by nearly 80 per cent in Victoria and 45 per cent in NSW.</p>
<p>Other energy industry sources told the <em>Newcastle Herald</em> that  Loy Yang Power was emerging as the first big test of the government’s policies aimed at ensuring the electricity market coped with the introduction of the $23-a-tonne carbon price in July without major disruption.</p>
<p>Loy Yang Power lobbied fiercely for amendments to the carbon tax laws that would have allowed deferred payments when producers bought forward-dated pollution permits under the scheme, a provision that was included under the Rudd government’s emissions trading scheme that would have reduced the sudden increase in their working capital requirements.</p>
<p>Loy Yang Power’s chief executive Mr Nethercote said it was ”more than likely” Loy Yang would have had to get a no action letter from ASIC even without a carbon price, which will cost it about $450 million a year.</p>
<p><em>(Source: <a href="http://www.theherald.com.au/">http://www.theherald.com.au/</a> )   </em></p>
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