Commonwealth Election Result

On 24 November, the ALP won the Commonwealth election and will now form government. There are two key implications for the energy sector as a result of this change in Government. AGL estimates that the expansion of the Mandatory Renewable Energy Target to 45,000 GWh will require over 11,600 MW of new renewable capacity and additional investment of around $27 billion by 2020. In addition, emissions trading is to be implemented by 2010.