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Government announces the 2014 RET Review

On 17 February 2014, the Government announced the review of the Renewable Energy Target scheme (RET) by an expert panel that will undertake public consultations and seek submissions before reporting to Government by mid-2014, according to news released by Australian Clean Energy Regulator.

The Renewable Energy Target aims to encourage the additional generation of electricity from renewable sources, reduce greenhouse gas emissions from the electricity sector and ensure renewable energy sources are ecologically sustainable. The Government is committed to undertaking a review of the RET in 2014 to ensure it is operating efficiently and effectively.

The Government is releasing the Terms of Reference for a review into the RET scheme, Minister for Industry Ian Macfarlane and Minister for the Environment Greg Hunt announced on 17 February 2014.

“In particular, the review will consider the contribution of the RET in reducing emissions, its impact on electricity prices and energy markets, as well as its costs and benefits for the renewable energy sector, the manufacturing sector and Australian households,” Minister for Industry Ian Macfarlane said.

“Australia’s diversity of energy sources is one of our greatest national strengths. Renewable energy has contributed to the energy mix, but we must ensure that the program is operating effectively. “The review will be open and transparent, and will consult with a broad range of stakeholders.

The authority has put its RET review on the backburner while its future remains uncertain but it will now conduct a separate study on the electricity sector it hopes will make a “constructive contribution” to policy development.

The review’s report will be provided to Government by the middle of the year, which will in turn be an important input into the Energy White Paper process.

The 2014 RET Review Terms of Reference can be found on the Minister for the Environment’s website.






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