RENEWABLE ENERGY TARGET REDUCES POWER BILLS, CREATES JOBS

Media Release

Mark Butler MP

Shadow Minister for Climate Change 

Date:  30 April 2014

Research released today shows the Renewable Energy Target (RET), which is currently under review by the Abbott Government, will drive down electricity prices in the long term, drive up investment in the industry, create more jobs and reduce carbon pollution. 

“The Renewable Energy Target is a policy success story,” Shadow Minister for Climate Change Mark Butler said."

“Tony Abbott is so ideologically opposed to clean energy investment that he is blind to the economic benefits of the RET, not to mention the environmental benefits.”

The research commissioned by the Clean Energy Council shows household power bills will increase by an average $50 per year if the current RET is discarded.  

“Tony Abbott’s scare campaign about the RET driving up electricity prices is completely false."

“The RET accounts for between 2 and 3 per cent of an average household’s electricity bill. This research shows investment in renewable energy will stabilise power prices while traditional energy generation becomes more expensive,” Mr Butler said.

Australia needs to move to a clean energy future and the RET is assisting with this transition.

To date, jobs in the industry have tripled and this research indicates there will be further job growth into the future.

“Economically and environmentally, this policy makes sense. Families around Australia are making informed decisions to improve energy efficiency in their homes based on economic as well as ethical considerations."

“I know that the completion of the Government’s review of the RET is only months away, and the Shadow Minister for Resources, Gary Gray, and I will look at the Warburton Review when it is made public,” Mr Butler said."