Australia's Loy Yang Power in landmark carbon deal

Reuters, Wednesday April 29 2009

SYDNEY, April 29 (Reuters) - Australian electricity generator Loy Yang Power has entered into a landmark deal to hedge some of its carbon emissions, ahead of the country's planned introduction of a carbon-trading system next year, Loy Yang said on Wednesday.
Loy Yang, part owned by AGL and Tokyo Electric Power Co <9501.t>, said it had entered into a certified emission reduction (CER) trade with local energy trader Arcadia Energy Trading, the first between two Australian counter-parties.
The deal covers 100,000 tonnes of carbon, deliverable in December 2011.
(Reporting by Mark Bendeich; Editing by Bruce Hextall)