McArdle welcomes RET Review

The Newman Government has enthusiastically welcomed the announcement today of a review of the Renewable Energy Target by the Federal Government.

Energy and Water Supply Minister Mark McArdle said the days of Queenslanders subsidising energy sources that were not commercially viable should be declared over by the expert panel.

“Unfortunately the RET is increasing Queenslanders electricity bills by $81.24 per year,” Mr McArdle said.

“This is an unnecessary addition to the cost of living and along with the solar bonus scheme will increase bills by $276 this year.

“As part of the Newman Governments plan to grow our four pillar economy as promised at the election, we are embarking on the biggest reforms to the electricity system in a decade.

“Yet the RET and carbon tax remain as a handbrake on economic growth and a hindrance to long term reform.”

Mr McArdle said renewable energy was important, but the challenge was making it cheap enough to compete with traditional forms of electricity.

He said he also hoped the expert panel would take into account the recent experience during the heatwave in Victoria where the contribution of renewable energy during the peak usage periods was very unreliable.

“This calls into account the usefulness of subsidising renewable sources of energy when they cannot be relied on, for day to day peak periods or on those really hot days when the electricity network is being stretched,” he said.

Mr McArdle confirmed the Queensland Government would be making a submission to the RET Review.

[ENDS] 18 February 2014

Media Contact: Phil Hind 0437 334 183