Australia warned on emissions scheme

AUSTRALIA could follow Europe’s lead and suffer a delay of investment in its energy sector unless details of the proposed emissions trading scheme are released quickly.

Energy experts say Australia could end up with costly energy solutions because investors are unclear about the cost of carbon and the least-cost alternatives.

It comes as Europe faces an energy crisis with major energy companies cancelling investments in new power plants because of increased regulatory uncertainty and difficulties in getting approval for key projects.

Europe needs to spend