CoAG Review of Eligible Technologies

The Government today has announced that a COAG review into the Renewable Energy Target will consider factors that may be impacting upon the Renewable Energy Certificate (REC) market in the short and long term. “The review will explicitly examine the current state of the RET spot market and whether the spot market has any implications for the deployment of large-scale projects such as wind farms,” Senator Wong said. Senator Wong said uncertainty regarding the establishment of the Carbon Pollution Reduction Scheme could be harming market sentiment and impacting on the REC spot price. AGL agrees that uncertainty is a problem but the RET should also be amended so that only electricity generation is eligible (in other words non-electricity generation sources such as solar hot water should be transitioned out of the RET)