Australia:

Panax Geothermal to benefit from Indonesian increase in electricity tariff for geothermal projects (Proactive Investors - Australia)

(Courtesy Proactive Investors)

Panax Geothermal stands to be a beneficiary of the the Indonesian Government’s decision to increase the electricity tariff for geothermal projects.

The Company will enjoy improved project economics for its geothermal energy projects in Indonesia.

Tariffs in Java will increase by about 33% to US$120 per megawatt hour while the tarrif on the island of Flores has increased by 20% to US$150 per megawatt hour.

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