Carbon Crunch Hits Coal Power
From The Australian
A SECOND major coal-fired electricity generator has been forced to seek a multi-million-dollar bailout from its offshore shareholders, rather than bankers, ahead of the introduction of the carbon tax next week.
Last night, a part-owner of Victorian brown-coal power station Hazelwood announced it had used its internal corporate resources to refinance the debt on the power station rather than obtain the necessary financing from bankers.
