Labor’s decision to walk away from negotiations on the Renewable Energy Target is creating uncertainty for new investments in renewable energy.
Despite numerous calls from the renewable energy sector and large energy users to return to the negotiating table, Labor continues to play politics.
The latest ASX announcement from Meridian Energy that it will not proceed with their proposed Burdekin hydro project in North Queensland is another blow to investment in renewable energy.
It is clear that general market conditions are impacting on new investments, however there is no doubt that Labor’s strike on the Renewable Energy Target is affecting future investments in renewable energy.
It is treating the renewable energy sector like mugs and jeopardising jobs in key sectors like aluminium smelting.
Labor’s continued refusal to return to the negotiating table shows that it is willing to sacrifice the renewable energy sector’s future and jeopardise jobs in other sectors in a desperate attempt to appease the Greens.
They have walked away from workers whose jobs are at risk in manufacturing and from providing certainty for the renewable sector.
The current system is out of balance and we are working to protect local jobs and provide business certainty.
We are open to discussions that will provide a role for renewables in Australia’s energy market, including no change to household solar.