Renewable Energy Target

On Friday I met with Tim Sonnreich from the Clean Energy Council to talk about the Federal Government’s review of the Renewable Energy Target. The Clean Energy Council points out that scrapping or scaling back the renewables target would see electricity prices RISE, not fall, due to greater use of gas in the energy sector, at a time when gas is soaring in price. The Clean Energy Council is worried that $18 billion of investments in renewable energy projects are predicated on the target remaining as is. They will be hurt if the Renewable Energy Target is reduced.
 
My own view is that the Target needs to be retained till 2020, and increased, not reduced, after that.