Business

Agreement on renewable energy target gets closer

AN agreement on the federal government's renewable energy target is close after talks over the weekend.

The ABC reports that Environment Minister Greg Hunt had discussions with the Clean Energy Council and the Australian Industry Group.

The original target of the RET set in 2008 was 41,000 gigawatt hours, or 20 per cent of demand, of renewable electricity by 2020.

The government has since argued the actual figure should be 26,000 gigawatt hours, or what it called a "real 20 per cent", due to falling household electricity consumption.

There also have been discussions around making the aluminium industry exempt from the target.

Gladstone's Boyne Smelters Limited has called on politicians to reach an agreement on the target, so that legislation to provide a 100% exemption for aluminium from January 1, 2015 can be implemented.

BSL says that since 2001, the aluminium industry has paid more than $500 million in renewable energy target costs, with BSL contributing $125 million.

BSL general manager of operations Joe Rea said the continuation of target costs had to be absorbed by smelters that added value to Australian natural resources at a time when the industry could least afford it, and when many other Australian manufacturers had closed or were signalling their closure.

"RET costs us around $25 million per annum at BSL," Mr Rea said.

"Affordable energy is critical for aluminium smelters. Removing regulatory costs such as the RET would help secure the long-term future of aluminium smelting in Australia."

BSL says it employs about 1000 people and indirectly supports about 6700 jobs nationall,y with 3000 of these jobs in the Gladstone region. 

Topics:  aluminium, environment, gladstone business, gladstone industry, renewable energy target




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

3 easy dinner recipes your kids will love, and so will you

No Caption

THERE is a middle ground! Dinners fit for kids and adults.

How to reduce your child's risk of food allergies

ABOUT 90% of food allergies are caused by just seven foods.

5 good mental health habits for kids (and parents)

CRYING OUT FOR HELP: The demand for counselling support for children and young people is increasing.

FORMING good habits early is critical for your child's mental health.

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Susie O'Neill: Why I stopped smacking my children

Swimming legend Susie O'Neill says she has stopped smacking her kids.

“I (smacked) because that’s what I knew growing up."

Introducing a step-parent into the family

Introducing a step-parent into the family can be stressful for the children, as well as the new parent.

THERE is no easy way to introduce a step parent into the family.

Tourist reports croc sighting at Boyne river

Never smile at a crocodile!   Photo Colleen Delaney

"Decent sized" croc sighted on Boyne River

Star-struck Gladstone man seeks selfie with Pauline Hanson

Pauline Hansen in Gladstone June 24, 2016. Pauline and Fraser Anning.Photo Mike Richards / The Observer

FLYNN voter visits his favourite pollie.

Gladstone stalwart backs Ken’s tax cuts for business

Owner of a Gladstone electrical company Ken Corfield with LNP member for Flynn Ken O'Dowd.

Two Kens agree that businesses would benefit from LNP's tax cuts

Latest deals and offers

Is this state’s cheapest house?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward

Cheap, cheap rental in Gladstone

$150/week for 6 Drynan Dr, Calliope

Cheap cheap rental in Gladstone