Antinuclear

Australia is one of the world’s biggest carbon emitting countries per person but has seen declining electricity use in the past five years amid rising power bills and cheaper renewable energy options such as rooftop solar.

As such, the government led by conservative prime minister Tony Abbott wants to redefine a renewable energy target (RET) set by a previous centre-left government in 2009. Instead of a fixed amount then equivalent to 20 percent of projected energy use in 2020, the government wants to aim for 20 percent of actual energy use, which is far less.

To reach the target, the government subsidises companies which invest in renewable energy as well as households and small businesses which opt to use such energy. But the cost of renewable energy is higher than the subsidies, so companies pass on costs to customers.

The government and opposition are now negotiating new terms of the RET in hope of giving investors confidence beyond the three-year electoral cycle.

But they face a deadlock with neither side apparently willing to give ground.

“It would have a devastating impact,” Mark Butler, environment spokesman for the opposition Labor party told the Reuters Global Climate Change Summit on Wednesday when asked about the government’s so-called real 20 percent target.

“It would largely kill any chance of significant new investment. It would collapse the certificate price to the point where even the existing investments would be seriously compromised.”……….

ALUMINIUM SPARED

Australian aluminium miners have argued they deserve an exemption from paying any additional costs associated with the RET in their energy bills because sharp falls in the metal’s spot price have put significant pressure on their industry.

Butler said Labor may agree to exempt the aluminium industry, but rather than force households and other industries to subsidise the 2,000 gigawatt hours used by that industry, it could cut the target by that amount.,,,,,,,,http://af.reuters.com/article/energyOilNews/idAFL3N0SA2J420141015