none

BREAKDOWN ON RET NEGOTIATIONS ‘A ROADBLOCK TO INVESTMENT’

15-11-2014
by 
in 

The breakdown of Renewable Energy Target (RET) negotiations between the Government and the Opposition is a roadblock to investment that will increase consumer costs and worsen perceptions of risk, the Australian Industry Group claims.

AiGroup Chief Executive Innes Willox said without a workable bipartisan deal, deep uncertainty will impose increasing costs on energy users and strangle investment in renewables.  

“The direct costs of the RET will go up, and without investment there will be no offsetting downward pressure on electricity prices, Mr Willox said.

“Neither deep cuts in the RET nor years of continued uncertainty are in the interests of energy users.”

Mr Willox said a bipartisan agreement that provides durable confidence “beyond the swings of the electoral cycle” is badly needed.

A “workable” deal would require both sides to make significant concessions. 

“The key requirements are that a deal not expose energy users to major new costs, not impact on existing investments and be practically implementable, Mr Willox said.

“The Government and the Opposition should regroup and return to the negotiating table as soon as possible.” 

Related news & editorials

  1. 18.10.2018
    18.10.2018
    by      In
    Amidst global concern about plastic waste in the world’s oceans, it is rather ironic that it is a soft drinks company that is actually doing something about the problem. SodaStream International, which has always taken a different approach to the soft drinks market, is now taking a different... Read More
  2. 16.10.2018
    16.10.2018
    by      In
    The Government has unveiled a $5 million scheme to encourage high-quality graduate engineers to work in Australia’s automotive sector. The Automotive Engineering Graduate Programme aims to increase the level of advanced engineering skills in the sector and is part of the $100 million Advanced... Read More
  3. 15.10.2018
    15.10.2018
    by      In
    Industry Update is delighted to announce that we are expanding our video offerings with a new series of tutorial style videos that perfectly complement our existing library of news style videos.
    In the first series, we are partnering with sensor specialist VEGA to publish eight playlists of videos... Read More
  4. 15.10.2018
    15.10.2018
    by      In
    Kennards Hire is certainly “doing its bit” to help Australia’s drought stricken farmers and their families. The work began with the Kennards branch network throwing itself behind the Buy a Bale initiative, and is now continuing with a key role in the Mega Farm Rescue.
    Kennards Hire team members... Read More