Greg Hunt has spent the last year saying the costs of the RET are modest. Now, he says, meeting the 41,000GWh target would entail “extraordinary” penalties.
The predictable findings of the RET Review panel will deliver massive windfalls for fossil fuel generators. But as they celebrate a victory of short term interests over long term public benefits and good policy, their Kodak moment looms larger than ever.
As Scottish voters decide whether their country should remain part of the UK, what difference will the vote make to the energy future of these isles?
RET Review panel appointed by Prime Minister Tony Abbott calls for closure of the renewable energy target to new entrants as one of two options it is recommending to the government. It also wants small scale scheme closed or limited to installations of less than 10kW.
The RET has been criticised as a subsidy to renewable energy investors that distorts the electricity market. How true are these claims?
BNEF says presumed changes to RET will cause string of bankruptcies, and effectively kill renewable energy industry in Australia for a decade.
Fairfax’s media flagship has called on Tony Abbott to protect the RET, and then recommended a raft of policies to do exactly the opposite. It’s another example of why the Abbott government’s destruction of a $20 billion industry is and will not be questioned in mainstream media.