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Review of the Renewable Energy Target

17 February 2014

Joint media release with the Minister for the Environment, the Hon Greg Hunt MP

The Government is releasing the Terms of Reference for a review into the Renewable Energy Target (RET) scheme, Minister for Industry Ian Macfarlane and Minister for the Environment Greg Hunt announced today.

The review will be undertaken by an expert panel, headed by Mr Dick Warburton AO LVO and will include Mr Matthew Zema, Dr Brian Fisher AO PSM and Shirley In’t Veld.

Under existing law a review is due in 2014.

“This upholds a clear commitment that the Coalition took to the election, to review the Renewable Energy Target to make sure it is working efficiently and effectively,” Minister for Industry Ian Macfarlane said.

“In particular, the review will consider the contribution of the RET in reducing emissions, its impact on electricity prices and energy markets, as well as its costs and benefits for the renewable energy sector, the manufacturing sector and Australian households.

“Australia’s diversity of energy sources is one of our greatest national strengths. Renewable energy has contributed to the energy mix, but we must ensure that the program is operating effectively.

“The review will be open and transparent, and will consult with a broad range of stakeholders.

“Unlike the pattern from the previous Government, the review will engage in real consultation, seeking submissions from the public and industry.”

Minister for the Environment Greg Hunt said “The review will advise the Government on the progress of the Renewable Energy Target, the importance of investment certainty and any measures which can help ease pressure on electricity prices.

“The independent and expert panel brings together extensive policy, business and energy sector expertise to complete this task.

“The Government is committed to easing the pressure of electricity prices for families and business. That’s why we’re getting rid of the carbon tax. The carbon tax drives up the price of electricity but has had no significant impact on emissions.”

The review will be supported by a Secretariat based in the Department of Prime Minister and Cabinet involving specialists from the Departments of Industry and Environment.

The review will be provided to Government by the middle of the year, which will in turn be an important input into the Energy White Paper process.

Media contacts: Mr Macfarlane's office 02 6277 7070
                            Mr Hunt's office 02 6277 7920


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