Weakening or abolishing the Renewable Energy Target (RET) would benefit owners of polluting coal plants at the expense of households and small business.
“Who really benefits from weakening the Renewable Energy Target?” is the question asked by The Climate Institute, Australian Conservation Foundation and WWF-Australia. Based on independent modelling by Jacobs, the report finds that a weakening of the RET as per companies’ proposals would result in $8 billion additional profit to coal generators, no decline in electricity prices, additional carbon pollution of about 150 million tonnes and the loss of $8 billion in investment in new renewable capacity.
For more information, visit climateinstitute.org.au/RET
