Antinuclear

Australia’s big polluters to get over $7 billion from Renewable Energy Target compensation

$7.1bn discount for big polluters, Sydney Morning Herald, June 16, 2011 A green group has released analysis that suggests exemptions for big polluters under the renewable energy target (RET) will cost households and businesses $7.1 billion by 2030…….A green group has released analysis that suggests exemptions for big polluters under the renewable energy target (RET) will cost households and businesses $7.1 billion by 2030….emissions-intensive trade-exposed industries receive a discount of up to 90 per cent so they’re not at a disadvantage compared with overseas competitors.

The Climate Institute says that discount will be worth $7.1 billion by 2030.

Of that, $4.4 billion will be picked up by non-trade-exposed businesses. The other $2.7 billion will be paid by households.

“To fund protection for some big polluters, households are paying around 23 per cent more for renewable energy than they otherwise would over the life of the scheme,” institute chief executive John Connor said in a statement.

“Trade-exposed industries consume around 25 per cent of Australia’s electricity but currently help to pay for only around eight per cent of the total effort of the RET.”

Mr Connor says while some protection is warranted it should be wound back over time.

The Climate Institute says the RET scheme currently costs the average Sydney household $1.20 per week.

June 18, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, politics