Reliable Energy Target
Australia needs a new RET – a Reliable Energy Target!
Consider the ludicrous situation we have reached. We subsidise unreliable renewable energy that cannot consistently provide the base load power we require. So it is now suggested that we subsidise base-load power, remove the GST on electricity, or pay people to not use it.
It’s time we return to some basic principles. Australia has significant reserves of coal and gas. Elsewhere in the world, hundreds of coal-fired power stations are being constructed. Yet we have a regulatory and fiscal regime that has resulted in the closure of power stations, the failure to build any new ones, and significant hikes in electricity prices.
We need to encourage and support reliable energy. Otherwise we will weaken our economy, and ignore the advantages that Australia possesses. This will impact adversely on the standard of living of Australians in the future.