But he said he was confident Party
5 hours ago
Coalition sights on clean energy
The Infrared 3s Prime Minister said affordable energy should be one of the nation's comparable advantages and getting power prices "down significantly" would be a key objective of a manufacturing task force he would chair, The Australian reports.
The RET mandates that 20 per cent of power generation will come from renewable sources by 2020 but energy retailers and some Coalition MPs, including Nationals senator Ron Boswell, have argued for it to be scaled back or scrapped.
Renewable energy, such as wind, solar and hydro electric power, is currently mandated to be about 10.6 per cent of power consumption, meaning it will double over the next six years.
Some energy executives, including Origin Energy's Grant King, have called for changes, arguing national falls in power consumption will increase the amount of renewable power in the system by 2020 to about 27 per cent.
Earlier this year Mr King also suggested renewable energy, which typically costs more to produce than energy from coal fired power stations, was adding 14 per cent to average consumers' power bills Infrared 3s For Sale and up to 30 per cent for larger users.
Asked about the future of the RET yesterday, Mr Abbott said: "We support sensible use of renewable energy and as you know it was the former Howard government which initially gave us the RET and at the time it was important because we made very little if any use of renewable energy.
"We've got to accept, though, that in the changed circumstances of today, the renewable energy target is causing pretty significant price pressures in the system and we ought to be an energy superpower.
"I mean, this country ought to be an affordable energy superpower."
Mr Abbott said almost everything that had happened during the past few years, starting with the carbon tax, had conspired to put power prices through the roof. "And what we'll be looking at as part of this taskforce that I will chair is what we need to do to get power prices down, and down significantly."
Industry Minister Ian Macfarlane said the nation was facing an enormous challenge in terms of an excess generating capacity in electricity in Australia.
"To be adding large quantities of generation into that situation has to be questioned," he said. "The review process will go Jordan 3 Infrared 23 through those things but, as the Prime Minister says, in terms of the cost of energy, the fact that a coal fired power station is dispatching electricity at a lower price now than it was five years ago and yet businesses are facing electricity prices that are more than double is an issue that has to be addressed.
"Every manufacturing industry uses electricity. It is a significant portion of their costs and it needs to be looked at and it will be looked at both through this taskforce but also through the RET review."
Climate Institute deputy chief executive Erwin Jackson said the RET was the only large scale carbon emissions reduction mechanism that had bipartisan support.
He said significant tampering with the RET would damage investor confidence in clean energy and in the broader electricity market.
"For a cost of 80c a week for the average household, the RET has attracted billions of dollars in investment and cut millions of tonnes of emissions," Mr Jackson said. "That's a pretty good investment."
Greens leader Christine Milne said Mr Abbott was "clearly lining up to attack the RET".
"Suggesting we have too much generation capacity is code for crushing renewables by slashing the target from its current 41,000GWh," Senator Milne said.
"As if it's not bad enough that Tony Abbott wants to stop renewable energy in its tracks, he continues with Infrared 23 3s For Sale corporate welfare fossil fuel subsidies and refuses to acknowledge that renewables have brought down the wholesale price of electricity.
"Tony Abbott is last century's man on energy policy. He is dangerous because he will inflict upon the country stranded fossil fuel assets, runaway global warming and a rust bucket economy."
Clean Energy Council deputy chief executive Kane Thornton said Mr Abbott was right to be concerned about power prices.
But he said he was confident that the upcoming review would once again show that the RET was a low cost policy that also delivered substantial benefits.
"The cost of renewable energy continues to fall while the cost of gas is set to soar this decade," Mr Thornton said.
"The Renewable Energy Target will help to shield Australia from the pressures of rising gas prices as well as Infrared 23 3s driving jobs and investment throughout the country."
5 hours ago
Coalition sights on clean energy
The Infrared 3s Prime Minister said affordable energy should be one of the nation's comparable advantages and getting power prices "down significantly" would be a key objective of a manufacturing task force he would chair, The Australian reports.
The RET mandates that 20 per cent of power generation will come from renewable sources by 2020 but energy retailers and some Coalition MPs, including Nationals senator Ron Boswell, have argued for it to be scaled back or scrapped.
Renewable energy, such as wind, solar and hydro electric power, is currently mandated to be about 10.6 per cent of power consumption, meaning it will double over the next six years.
Some energy executives, including Origin Energy's Grant King, have called for changes, arguing national falls in power consumption will increase the amount of renewable power in the system by 2020 to about 27 per cent.
Earlier this year Mr King also suggested renewable energy, which typically costs more to produce than energy from coal fired power stations, was adding 14 per cent to average consumers' power bills Infrared 3s For Sale and up to 30 per cent for larger users.
Asked about the future of the RET yesterday, Mr Abbott said: "We support sensible use of renewable energy and as you know it was the former Howard government which initially gave us the RET and at the time it was important because we made very little if any use of renewable energy.
"We've got to accept, though, that in the changed circumstances of today, the renewable energy target is causing pretty significant price pressures in the system and we ought to be an energy superpower.
"I mean, this country ought to be an affordable energy superpower."
Mr Abbott said almost everything that had happened during the past few years, starting with the carbon tax, had conspired to put power prices through the roof. "And what we'll be looking at as part of this taskforce that I will chair is what we need to do to get power prices down, and down significantly."
Industry Minister Ian Macfarlane said the nation was facing an enormous challenge in terms of an excess generating capacity in electricity in Australia.
"To be adding large quantities of generation into that situation has to be questioned," he said. "The review process will go Jordan 3 Infrared 23 through those things but, as the Prime Minister says, in terms of the cost of energy, the fact that a coal fired power station is dispatching electricity at a lower price now than it was five years ago and yet businesses are facing electricity prices that are more than double is an issue that has to be addressed.
"Every manufacturing industry uses electricity. It is a significant portion of their costs and it needs to be looked at and it will be looked at both through this taskforce but also through the RET review."
Climate Institute deputy chief executive Erwin Jackson said the RET was the only large scale carbon emissions reduction mechanism that had bipartisan support.
He said significant tampering with the RET would damage investor confidence in clean energy and in the broader electricity market.
"For a cost of 80c a week for the average household, the RET has attracted billions of dollars in investment and cut millions of tonnes of emissions," Mr Jackson said. "That's a pretty good investment."
Greens leader Christine Milne said Mr Abbott was "clearly lining up to attack the RET".
"Suggesting we have too much generation capacity is code for crushing renewables by slashing the target from its current 41,000GWh," Senator Milne said.
"As if it's not bad enough that Tony Abbott wants to stop renewable energy in its tracks, he continues with Infrared 23 3s For Sale corporate welfare fossil fuel subsidies and refuses to acknowledge that renewables have brought down the wholesale price of electricity.
"Tony Abbott is last century's man on energy policy. He is dangerous because he will inflict upon the country stranded fossil fuel assets, runaway global warming and a rust bucket economy."
Clean Energy Council deputy chief executive Kane Thornton said Mr Abbott was right to be concerned about power prices.
But he said he was confident that the upcoming review would once again show that the RET was a low cost policy that also delivered substantial benefits.
"The cost of renewable energy continues to fall while the cost of gas is set to soar this decade," Mr Thornton said.
"The Renewable Energy Target will help to shield Australia from the pressures of rising gas prices as well as Infrared 23 3s driving jobs and investment throughout the country."