Government response to CCA review of the RET

Tim Nelson
Tim Nelson
21 March 2013

AGL is pleased that the Federal Government has confirmed its commitment to the Renewable Energy Target (RET) scheme and that it has endorsed the vast majority of recommendations by the Climate Change Authority.

The RET has had strong bipartisan  support since its introduction by the Howard Government and has been a great success story with billions already invested in large scale renewable generation projects.  With ongoing support from both sides of politics the RET will continue to be a success in reducing emissions in a low cost way for Australian homes and businesses.

Importantly, research by AGL economists for CEDA has shown real electricity prices may be 10 percent lower in 2020 even with significant future investment in renewables.