Will the next GFC turn out Vic lights?

With the carbon price looming large, Victoria's coal power stations could reach crisis point much earlier than predicted, if a global credit squeeze hits and debt cannot be rolled over.

The executives of Victoria's power companies have come back from their beach holidays to a very chilly outlook for 2012. With the new carbon tax commencing in July, Victorian generators are facing unprecedented uncertainty and a massive challenge on debt re-financing.

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