Business Calls for a RET Compromise

Emily Wood | May 4, 2015

Peak business groups have today called on the Federal Government and Opposition to resolve the current Renewable Energy Target (RET) impasse, and provide much needed certainty to industry. The business groups stated: “We acknowledge the goodwill from the Australian Government in moving from a position in the high twenty thousands to 32 000 GWh and the equivalent goodwill from the Opposition in moving from a position in the high thirty thousands to 33 500 GWh. These positions are now close and we ask both sides to resolve the issue, with a compromise of 33 000 GWh. That will provide a stable bipartisan basis for investment in energy supply including renewables, conventional energy and energy dependent industry. “Failing to agree on the Renewable Energy Target will continue to block investment in renewable energy generation and in electricity supply. It will also impose significant unnecessary costs on industry that relies on electricity.” The signatory peak organisations are the Australian Chamber of Commerce and Industry, the Australian Industry Group, the Business Council of Australia, the Australian Aluminium Council, the Bureau of Steel Manufacturers of Australia, the Cement Industry Federation, the Energy Users Association of Australia and the Tasmanian Minerals and Energy Council. These organisations represent businesses that collectively employ millions of Australians, produce hundreds of billions of dollars of products annually, and have invested heavily in Australia over many decades.

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