THE Federal Government says revenue raised from an emissions trading scheme will be used to compensate households and business for increased energy costs.

But the Australian Greens, who share the balance of power in the Senate from Tuesday, say some of the profits should go towards renewable energy.

The government is still in the process of drafting its scheme, which it has committed to have up and running by 2010.

Treasurer Wayne Swan said details, including whether or not fuel would be exempt, would be outlined in a green paper to be released next month. ... Read full article