Antinuclear

Australian news, and some related international items

Victoria’s Renewable Energy Target now becomes law

Victoria Renewable Energy Target written into law, without support of LNP, REneweconomy, By Sophie Vorrath on 23 October 2017 Victoria has become the first state in Australia to have its renewable energy target written into law, after the Labor Andrews government’s Renewable Energy (Jobs & Investment) Bill was passed by Parliament on Friday.

State energy minister Lily D’Ambrosio said on Friday the governments’ VRET of 25 per cent renewable energy by 2020, and 40 per cent by 2025, had passed the Legislative Council with 20 votes to 18, and despite not winning a single vote from the opposition Coalition party.

The “historic” vote comes amid growing confusion and concern about what the federal Coaltion’s National Energy Guarantee means for Australia’s energy sector, and particularly for the renewable energy industry, with no national renewable energy target in place beyond 2020, and the suggestion development could go backwards under the new plan, resulting in just 28-36 per cent renewables by 2030.

The state governments, in particular, have reacted with frustration to the NEG, which – as Giles Parkinson pointed out here on Friday – is a decision by the Turnbull government to essentially rely on the same state-based renewables targets it has so often derided as reckless.

All of Australia’s Labor states and territories have their own renewable energy targets, each of them more ambitious than the federal government’s goal of 20 per cent by 2020.

Queensland and the Northern Territory are aiming for 50 per cent by 2030; South Australia is already there but looking to add more; while the ACT has already signed contracts with wind and solar farms to take it to 100 per cent renewables by 2020.

Victoria’s own target, now legislated, is expected to cut the average cost of power for households by around $30 a year; $2,500 a year for medium businesses and $140,000 a year for large companies. It is also forecast to drive a 16 per cent reduction in the state’s electricity sector emissions by 2034-35, and create up to 11,000 jobs.

Despite these projected benefits, the state targets have been used regularly by the federal government as scapegoats for rising electricity prices and the closure of ageing coal plants – an irony that is not lost on the states, particularly considering the federal Coalition needs their approval for the NEG to be put into place, because it requires significant changes to the National Electricity Market rules…….http://reneweconomy.com.au/victoria-renewable-energy-target-written-law-without-support-lnp-31448/

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October 23, 2017 - Posted by | energy, politics, Victoria

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