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RET (Renewable Energy Target) Deal Close Prior to Fresh Talks with the Clean Energy Sector

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Published on : Mar 09, 2015

According to the Federal Government a renewable energy target or RET deal with the clean sector for energy is quite close after the fresh discussions happened during the weekend.

The Minister of Environment Greg Hunt discussed with the sector for clean energy during the Clean Energy Council and also with the Australian Industry Group. If any final agreement is reached with the industry, this most likely will support of the Labor to pass Parliament. According to Hunt, the fact that the Council for Clean Energy wants an agreement is quite close and will show a positive and constructive influence with the ALP.

The original target decided of the RET was set in the year 2008 and was around 41 thousand giga watts hours, or around 20 per cent of the total demand of the renewable electricity generated by 2020.

However, the government has since argued about the actual figure and stated it should be around 26 thousand giga watts hours or what can be referred as a real 20 per cent deal. This was due to the declining household electricity consumption. A final figure on the target for giga watt hours is yet to be agreed in the latest negotiations on RE. However, the Council for Clean Energy has understood that they want a target which in the mid to high range of 30 thousands.

The Environment Minister stated that he was hopeful that a good deal would be reached till Easter arrives. The Chief Executive, Wilcox, the Australian Industry Group also stated that that the deal would soon reach a decision.

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