New research has shown the Abbott Governments plan to cut the RET - TopicsExpress

New research has shown the Abbott Governments plan to cut the RET by 40 per cent may lead to legal challenges, businesses defaulting on loans and future projects being unviable. The Abbott Government has said its preferred position on the RET is for a reduction from 41,000GWh to about 26,000GWh by 2020. The research conducted for the Clean Energy Council shows under this scenario “sovereign uncertainty raises compelling reasons to doubt the stability and longevity of a reduced RET”. This research raises a number of very serious issues about the financial implications of the Government’s plans to slash the RET. Labor has rejected the Governments proposal for this 40 per cent cut to the RET. We will not be part of an arrangement that cuts jobs and closes businesses. Labor will continue to talk to the Government about returning the RET to a position of bipartisanship to provide certainty to the industry, investors and workers.

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