Following yet another failed energy policy, The Greens want to extend the renewable energy target (RET) to 2022.
In a bid to avoid a fall-off in investment, the Greens want the previous RET of 2020 to be extended to 2022, which coincides with the end of the next term of government.
After the Turnbull led National Energy Guarantee was dumped, the Greens are worried that without industry certainty, there will not be any new generation investment and will skyrocket power prices.
Following the words of Prime Minister Scott Morrison, he believes Australia needs to take a completely different approach to energy and wants more ‘fair dinkum power’ in order to reduce Australian electricity bills.
By that, Mr Morrison hopes to stop solar and wind energy investment and simply keep our focus on gas and coal.
Prime Minister Scott Morrison has never been a huge fan of renewable energy, but is now open to talks of extending the RET past 2020. Source: www.smh.com.au.
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Siding with the Prime Minister, Energy Minister Angus Taylor wrote in the Australian Financial Review that policies relating to emissions reductions were "corporate greed dressed up as saving the planet".
"Bipartisanship is preferable but Labor needs to decide if it accepts our unambiguous focus on lower prices while keeping the lights on," the energy minister wrote on Tuesday.
"Emissions reductions are the least of our problems".
With a desire to simply reduce costs for Australian homes and businesses when paying their energy bill, Mr Morrison said he will work closely with the Energy Minister to put forward energy options.
"Angus is bringing back a package of things right now to see how we can get greater investment in what I call fair dinkum power, that's the stuff that works when the sun doesn't shine and wind doesn't blow," Mr Morrison said on Tuesday.
"The only thing I've ever seen make those big energy companies move is when you've got a big stick."
The Prime Minister has also rejected calls that he was going to walk away from the Paris Climate Agreement (UNFCCC), expressing a move as such would pose national security risks.
But not shy to express his opinion on the agreement, Mr Morrison said abandoning the Paris commitment to cut emissions to 26 per cent from 28 per cent on 2005 levels by 2030 wouldn't do a "jot" to reduce energy prices.
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