AGL Energy – once the “greenest” retailer in the country and now the largest producer of coal-fired energy – has called for the renewable energy target to be scrapped altogether. As speculation increased in Canberra and media circles that the Abbott government and Labor would agree on a compromise that would result in a significant hair-cut to the current 41,000GWh target, AGL intervened in the debate by saying that was not good enough – the RET should be dumped completely. MichaelFraserChief executive Michael Fraser, who has overseen the change in AGL Energy’s business model from green to black, says the RET policy is broken. He endorses the controversial Warburton Review’s more extreme finding that the target should be dumped altogether. Fraser argued in an interview on Radio National on Friday that Australia should go “back to the drawing board” and consider alternative mechanisms such as feed-in tariffs, or tax incentives – and then consider how much renewable energy it wants to have in the system. There are a couple of issues with what Fraser has said. For a start, as all the inquiries to date have found, the RET has actually worked very well. It spurred billions of dollars of investment, thousands of jobs, and in states such as South Australia has caused dramatic falls in emissions. Source and read more: reneweconomy.au/2014/agl-energy-calls-for-renewables-target-to-be-scrapped-completely-61976
Posted on: Sat, 25 Oct 2014 07:55:27 +0000
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