“The passage of the Renewable Energy Target (RET) amendment legislation will restore confidence in investment in renewable energy and avoids the risk of higher prices in our electricity intensive industries,” BCA Chief Executive Jennifer Westacott said.

“The government, along with the Opposition and the crossbenchers, have achieved a workable compromise. Ministers Greg Hunt and Ian Macfarlane, and Shadow Ministers Mark Butler and Gary Gray should be congratulated for steering a bipartisan pathway for the renewable energy sector.

“The renewed bipartisan approach to renewable energy policy has ended eighteen months of uncertainty for the electricity sector.

“The annual statements to Parliament from the Clean Energy Regulator on how the scheme is tracking towards the 2020 target, and any impact the RET is having on electricity prices, will provide business and the community with important and transparent information on the operation of the RET,” Ms Westacott said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2664 • Mobile 0403 241 128