{"id":313,"date":"2015-02-23T14:51:09","date_gmt":"2015-02-23T14:51:09","guid":{"rendered":"http:\/\/dpenergy.walkercommunications.co.uk\/?p=313"},"modified":"2024-01-15T12:16:52","modified_gmt":"2024-01-15T11:16:52","slug":"renewable-energy-firm-warns-australian-government-over-targets","status":"publish","type":"post","link":"https:\/\/dpenergy.com\/renewable-energy-firm-warns-australian-government-over-targets\/","title":{"rendered":"Renewable Energy Firm Warns Australian Government Over Targets"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Leading independent renewable energy development firm DP Energy has warned Australian parliamentarians that reducing green power targets \u00a0are damaging damage investment opportunities in that country.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">John Thouless, DP Energy\u2019s chief operating officer has written to every \u00a0MP in the ruling Coalition government to say that the lack of a resolution and continuing uncertainty surrounding renewable energy targets (RET) is having a profound impact on the renewables sector in Australia.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cOur ability to invest in the country and its workforce is being restricted by the lack of certainty,\u201d Mr Thouless says in an open letter. \u201cI would also caution the potential for wider damage to Australia\u2019s reputation as a safe and reliable investment destination and the risk of impact to other sectors.&#8221;<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">DP Energy outlined its plans for wind and solar development with a capital programme value exceeding A$1.5bn.\u00a0 \u201cUnfortunately the pace of our activities and the corresponding investment decisions have continued to slow down and we are urging politicians on all sides to work together to constructively resolve the RET issue,\u201d says Mr Thouless.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Thouless cites the outcome of the statutory review of the RET completed by the Climate Change Authority in 2014 which states: \u201cthe target should remain fixed in terms of giga-watt hours to provide confidence to investors.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">DP Energy says it is asking MPs to consider the recent proposal by the Clean Energy Council (CEC). The CEC proposed a moderate reduction in the target, to somewhere in the mid-to-high thirty thousand GWH along with exemptions for Emissions-Intensive Trade-Exposed (EITE) and removal of the legislated two-yearly reviews. DP Energy supports this proposal for the following reasons:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Despite the lengthy review period no strong case has been put forward as to why the RET should be scaled back;<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">The government\u2019s own (non-statutory) review concluded that retention of the RET would act to lower future electricity prices, recent increases in which it had used as a \u00a0justification for the review;<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">The proposal to remove the legislated two-yearly reviews provides the stable and enduring environment in which companies such as DP Energy can make 20 plus year investment commitments;<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">Providing an exemption for Emissions-Intensive Trade-Exposed (EITE) industries has wide spread political support; and<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">The impact on the renewable industry could be partially offset by an increase in the short-term targets to absorb the current surplus of certificates, consideration of re-profiling the target, and a corresponding extension of the scheme beyond 2030.<\/span><\/li>\n<\/ul>\n<p class=\"p2\"><span class=\"s1\">It is apparent that some compromise is required to break the current deadlock and there is significant common ground upon which to reach this.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading independent renewable energy development firm DP Energy has warned Australian parliamentarians that reducing green power targets \u00a0are damaging damage investment opportunities in that country. John Thouless, DP Energy\u2019s chief operating officer has written to every \u00a0MP in the ruling Coalition government to say that the lack of a resolution and continuing uncertainty surrounding renewable [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/posts\/313"}],"collection":[{"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":1,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/posts\/313\/revisions"}],"predecessor-version":[{"id":3605,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/posts\/313\/revisions\/3605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/media\/316"}],"wp:attachment":[{"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/categories?post=313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dpenergy.com\/wp-json\/wp\/v2\/tags?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}