OZschwitz: Big business calls for changes to the retarded Renewable Energy Target

Australia's 20 per cent renewable energy target should be abolished - or at very least wound back - according to big business, which has unveiled research showing the target will cost the economy $29 billion and 5000 jobs by 2020.

OZschwitz: Big business calls for changes to the retarded Renewable Energy Target Art-RET-620x349

OZschwitz: Big business calls for changes to the retarded Renewable Energy Target Art-RET-620x349

The research, sponsored by business groups and the mining industry, is in direct conflict with a recent report to the federal government's RET review that found consumers would be up to $56 a year better off from 2021 as a result of mandated renewable energy.

Under the study, conducted by Deloitte Access Modelling and released on Wednesday by the Australian Chamber of Commerce, energy prices rise every year until 2030.

''In its current form, the RET is expensive, costs jobs and pushes power prices up,'' said ACCI chief executive Kate Carnell.

With the RET predicted to overshoot to a level of 28 per cent of energy production due to falling electricity demand, Ms Carnell said the RET should be significantly reined in ''at the very least'' to the so-called ''true 20 per cent'' based on consumption of 41,000 gigawatt-hours of renewable energy by large generators by 2020.

http://www.smh.com.au/federal-politics/political-news/big-business-calls-for-changes-to-renewable-energy-target-20140724-3chbt.html

OZschwitz: Big business calls for changes to the retarded Renewable Energy Target

OZschwitz: Big business calls for changes to the retarded Renewable Energy Target

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