BCA Statement: RET Uncertainty Must Be Urgently Resolved

It has been more than one year since the Federal Government announced a review of the Renewable Energy Target (RET). As a coalition of peak business associations representing renewable energy investors and electricity users, we are calling for both major parties to show leadership and to negotiate a final outcome by Tuesday 31 March. Read: Open letter from peak bodies calling for urgent Renewable Energy Target resolution.

BCA Statement:

“The lack of resolution around the Renewable Energy Target (RET) continues to stall investment and create uncertainty in the electricity generation sector, and puts electricity intensive industries at risk of paying more than they would otherwise have to for electricity from 1 April,” Business Council of Australia Chief Executive Jennifer Westacott said.

“The government and Labor need to urgently resolve the impasse on the RET. 

“At this late stage the Business Council now believes what matters is for the government and Labor to agree a workable compromise which is finalised this week to pave the way for investment and prevent higher electricity costs for electricity-intensive industries

“The protracted negotiations on the RET, and the serious risk that poor policy design will undermine reliable and competitively-priced electricity supply, reinforces the need for government to put in place an integrated, national approach to energy and climate change policy. 

“An integrated, national approach to energy and climate change policy would help Australia continue to meet growing global demand for energy and provide reliable and competitively-priced energy to Australians while safeguarding the environment,” Ms Westacott said.