The Panel in charge of the Renewable Energy Target (RET) Review are calling for comments and submissions to be made before the 16th of May 2014.
Dick Warburton AO LVO, Dr Brian Fisher AO PSM, Shirley In’t Veld and Matt Zema make up the review panel. There has been much talk about ‘the panel’ in charge saying that there may be conflicts of interest with those on the panel who may or may not benefit from fossil fuel companies if the RET is altered.
Environmental Minister Greg Hunt has said that all members had to complete declarations in order to identify conflicts of interest but some panel members have also revealed that have not made any such declarations.
As it has in previous years, the RET reviews tends to put a dampener on businesses in the industry. Investments seem to hold off awaiting the results that should be announced in the second half of this year.
The RET has already generated more than $18.5 billion in investments, created more than 30,000 jobs all at a current cost of between 3% – 5% of electricity bills. If the RET remains intact as it is now, that percentage will drop even further and generation is likely to double. If the RET is abolished, around 6 750 jobs will be lost in less than 5 years.
“Now is the time to tell the Federal Government that you want Australia’s Renewable Energy Target left alone,” says the CEC’s Deputy Chief Executive. “Now we need your help to ensure the Australian Government understand what the people of Australia want, and what’s at risk for the renewable energy industry if they get this wrong.”
If anyone is thinking of putting forward a submission, the panel has released a paper to help provide some information and assistance.
