Ceramic Fuel Cells Limited Victorian Government extend Feed-in tariff (3249L)
September 03 2012 - 3:55AM
UK Regulatory
TIDMCFU
RNS Number : 3249L
Ceramic Fuel Cells Limited
03 September 2012
Monday 3 September 2012
Victorian Government extends Feed-in Tariff to include fuel
cells
Ceramic Fuel Cells Limited (AIM / ASX: CFU), a leading developer
of small generators that use fuel cell technology to convert
natural gas into electricity and heat for homes and other
buildings, welcomes the announcement by the Victorian Government
that feed-in tariffs will be extended to include small scale low
emissions generators like fuel cells.
Today the Victorian Government announced that Victoria's solar
feed-in tariff will be broadened to include all low-emissions and
renewable technologies of less than100 kilowatts. From 1 January
2013, the new tariff will initially provide a minimum of eight
cents per kilowatt hour of electricity exported to the grid, which
is based on the adjusted wholesale price of electricity. The rate
will then be updated each year in line with the adjusted wholesale
electricity rate.
Feed-in tariffs are payments to distributed generators for
electricity generated at their premises and fed back into the power
grid.
The Government has accepted the recommendations of the Victorian
Competition and Efficiency Commission (VCEC), which began a review
into feed-in tariffs in January this year. Ceramic Fuel Cells was
involved in the consultation process with VCEC.
The new feed-in tariff will be available for all electricity
generators of less than 100 kilowatts which produce 50 percent or
less of the emissions intensity of electricity generation in
Australia.
Ceramic Fuel Cells' BlueGen gas to electricity generator will be
eligible for this feed-in tariff, making Victoria the first State
in Australia to provide a feed-in tariff for fuel cells.
BlueGen customers are already eligible to receive feed-in
tariffs in Germany and the United Kingdom. Both markets have
recently announced increases to their feed-in tariffs. The tariff
in Germany is equivalent to approximately 14 Australian cents per
kilowatt hour (11.5 Euro cents), while the total tariff in the UK
is up to approximately 26 Australian cents per kilowatt hour (17
pence).
Ceramic Fuel Cells' Managing Director Brendan Dow said:
We welcome the Victorian Government's decision to extend the
feed-in tariff to low emissions generators like our BlueGen
product. We hope that other States will follow Victoria's lead so
we can further develop the market in Australia for our locally
developed clean energy technology. In the meantime we will continue
to build sales in our key markets of Germany and the UK.
Ceramic Fuel Cells' BlueGen product converts natural gas into
electricity and heat for hot water for homes and other buildings.
BlueGen delivers an electrical efficiency of up to 60 percent -
higher than any other form of small scale electricity generation.
When the heat from BlueGen is used to produce hot water, total
efficiency increases to up to 85 percent.
BlueGen units are operating with customers in Melbourne,
Shepparton, Canberra, Sydney, Adelaide and Brisbane, as well as in
Europe, Japan and the USA. In Australia BlueGen units are available
to commercial and Government customers through our distributors
Harvey Norman Commercial and Hills Solar.
ENDS
More information:
-- The final VCEC report and the response from the Government are available at http://www.vcec.vic.gov.au/CA256EAF001C7B21/pages/vcec-inquiries-current-inquiry-into-feed-in-tariffs---barriers -to-distributed-generation
-- Contact details for BlueGen distributors are at www.bluegen.info/Distributors/
-- More information on the BlueGen product is available at www.bluegen.info.
For more information please contact:
Ceramic Fuel Cells Limited
Andrew Neilson (Australia) Tel. : +61 (3) 9554 2300
Email : investor@cfcl.com.au
Nomura Code Securities (AIM Nomad)
Chris Golden Tel. : +44 (0) 207 776 1200
Australian media enquiries
Richard Allen Tel. : +61 (0) 3 9915 6341
Oxygen Financial Public Relations Email : richard@oxygenpr.com.au
UK media enquiries
Mark Way Tel. : +44 (0) 7786 116 991
MW Research PR Email : mark.w@harvardamerica.com
German media enquiries
Alex Seiler Tel. : +49 (0) 69 9218 7454
Hering Schuppener Consulting Email : aseiler@heringschuppener.com
About Ceramic Fuel Cells Limited:
Ceramic Fuel Cells is a world leader in developing fuel cell
technology to generate highly efficient and low-emission
electricity from widely available natural gas. Ceramic Fuel Cells
has sold its BlueGen gas-to-electricity generator to major
utilities and other foundation customers in Germany, the United
Kingdom, Switzerland, The Netherlands, Italy, Japan, Australia, and
the USA. Ceramic Fuel Cells is also developing fully integrated
power and heating products with leading energy companies E.ON UK in
the United Kingdom, GdF Suez in France and EWE in Germany. The
company is listed on the London Stock Exchange AIM market and the
Australian Securities Exchange (code CFU).
www.cfcl.com.au
www.bluegen.info
This information is provided by RNS
The company news service from the London Stock Exchange
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