August 15, 2007 (ABC Western Australia) – Legislation to allow for the exploration of geothermal power is being introduced in State Parliament today.
The Minister for Energy, Fran Logan, says hot rock geothermal energy is one of the cleanest forms of power.
Mr Logan says a 500 megawatt zero-emission geothermal facility would produce enough electricity to power 700, 000 homes and is akin to taking 850, 000 cars off the road.
Hot rock energy is created using high temperatures found deep underground.
While the royalty rate for petroleum is ten per cent, Mr Logan says the rate for geothermal production will be 2.5 per cent and the money reinvested in renewable energy projects.
“That income stream that comes from that will not go into Treasury, but it will go into the low emissions energy fund which has been set up as part of the climate change statement,” he said.