Antinuclear

It thinks it’s been too successful.

Originally intended to snare 20 per cent of Australia’s electricity generation industry by the end of the decade, it’s on track to grab 28 per cent, all the while having an impact on prices the panel says “appears to be small”. What’s not to like?

It’s killing the coal-fired power generation industry. The panel doesn’t put it that crudely. It refers instead to a “transfer of wealth among participants in the electricity market”. If by 2020 retailers are required to buy 41,000 gigawatt hours from new pollution-free suppliers, the old polluting suppliers are going to sell 41,000 gigawatt hours less.

It would have hurt in any event, but a time when electricity use is sliding (thanks largely to the carbon tax) it means what was to have been 20 per cent is on track to become 28 per cent.

The abolition of the carbon tax gave coal-fired power generators a windfall. Kneecapping the Renewable Energy Target will give them a second helping…………..: http://www.smh.com.au/federal-politics/political-opinion/success-the-renewable-energy-targets-greatest-failing-20140828-109m7t.html#ixzz3Bore9HGW