Consulting group ROAM were recently commissioned by the Clean Energy Council (CEC) to look at the impact of the Renewable Energy Target (RET) under several different scenarios, including;
• Increasing the target
• Business as usual
• Removing the target
According to CEC Chief Executive David Green removing the RET would mean households would pay more than half a billion dollars a year extra for electricity in 2020 and up to $1.4 billion more each year beyond that.
A key factor for this prediction includes the rising cost of gas, as Australia enters the international gas market.
The report supports the RET highlighting that it will help to protect consumers from the pain of rising gas prices, and deliver billions of dollars in investment and thousands of jobs for regional areas of the country.