ABBOTT’S RET BROKEN PROMISE COSTS MORE JOBS

Bill Shorten MP.

Leader of the Opposition

MEDIA RELEASE

ABBOTT’S RET BROKEN PROMISE COSTS MORE JOBS

The Abbott Government’s Renewable Energy Target (RET) broken promise has cost 150 jobs in North Queensland today as Meridian Energy announced it will not proceed with its Burdekin Hydro Power Generation Project.

Meriden Energy has blamed the long-term uncertainty created by Tony Abbott’s broken promise on renewable energy for the company’s decision to cancel the project.

Meridian Energy has been in consultation for the Burdekin Hydro Power Generation Project for 18 months and planned to employ 150 locals during development and construction.

The 52 MW producing plant would have served around 20,000 regional homes.  Furthermore, it has significant strategic value because it could operate at times of peak demand, thereby offsetting high prices and the need for network expansion in regional Queensland.

In its announcement today, Meridian said the Abbott Government’s stance on the RET was “puzzling” given its own Warburton Review found the RET puts downward pressure on household power prices.

Australian families will have Tony Abbott to thank when their power bills rise because of his ideologically destructive approach to renewable energy.

This is the latest of a series of projects that won’t go ahead, costing local jobs and sending investment offshore since Tony Abbott’s politically motivated RET Review and his subsequent plans to significantly reduce Australia’s Renewable Energy Target.

Tony Abbott should make good before Christmas and recommit to the renewable energy industry and the 24,000 people it already employs.

Labor is prepared to help the Government restore the certainty enjoyed before Tony Abbott decided he didn’t want to support an industry that creates jobs, attracts investment, puts downward pressure on household power prices and reduces carbon pollution.


The Government’s proposal to cut the Renewable Energy Target by 40 per cent will destroy this industry. Labor will reopen negotiations if the Government moves away from this position.