Another RET review has just been announced making it the third review of the target in two years. With the Federal Government still not making a decision based on the predetermined Warburton review, the Climate Change Authority (CCA) is required to submit its review (as it was meant do before the task was given to climate sceptics) before the end of the year.

This is more than any one industry should have to face. Unfortunately, the CCA are bound  by legislation to do the review but they are going about it in the way that it should have been done the first time around – looking at the impact of the RET on electricity prices and not focusing on coal. Whether the Federal Government thought the RET would have been abolished by now or if they thought they would have shut down the CCA already (they have tried hard to do both) the fact of the matter is that they STILL have not handed down their decision – leaving the industry in a cloud of uncertainty and crippling it.

The CCA states, “The Climate Change Authority is proceeding with its statutory review of the Renewable Energy Target, which must be completed by 31 December 2014. The Review will have regard to the task of reducing electricity sector emissions, as part of cost-effective reductions in Australia’s national emissions in the period to 2020 and beyond.”

Clean Energy Council Acting Chief Executive Kane Thornton has called for an end to these ‘ridiculous’ reviews saying that no business should be expected to operate through this. It is clear what the public wants (although I doubt the Federal Government expected such a kick back from the public when they made their plans to abolish the RET clear).

“This situation is having a negative impact on investment and jobs in the renewable energy sector. The RET is designed to leverage investment, and this simply can’t happen when there is the constant threat of the goal posts being moved. While the Climate Change Authority has acknowledged the importance of a stable policy to attract investment and is bound by the requirements of the legislation, another review at this time is farcical,” said Mr Thornton. “Prime Minister Tony Abbott says Australia is open for business. But the massive investment opportunities in the renewable energy sector are going begging due to the lack of long-term policy stability. The RET has the potential to unlock $14.5 billion of investment in large-scale renewable energy generation and tens of thousands of jobs if we can stop the reviews and let the sector get on with  business.”

The Warburton review was said to be predetermined from the start. With the task taken away from the CCA and given to coal advocates and climate change deniers what more did the government expect? Nothing – the Government got the exact recommendation it wanted. Their review went way past the intended scope looking more into coal rather than assess what impact the RET has.

And….for the ‘work’ the Warburton review did we paid $587 329!!!! Dick Warburton alone received $73 000 for being chairman of the botched review.

The CCA’s review will be conducted in the manner intended – they will not take the Warburton review into account and they don’t have Mr Abbott whispering in their ear telling them what they want to hear. Maybe this review will show a bit more of a ‘bipartisan’ opinion.