Origin Energy Limited (ASX:ORG) managing director Grant King says uncertainty over the long term success of Australia’s proposed carbon pricing legislation may lead to five more years of lacklustre investment in new power supply.
Mr King said there was a period of uncertainty ahead for the carbon tax, meaning that companies would invest in the lowest cost means of meeting growing energy demand, investing in less efficient plants that are cheaper to build.
Origin Energy reported a net profit of $248 million for the 2011 financial year.
