Failure to achieve bipartisan consensus on energy would lead to worse outcomes as we fall back on a patchwork of state based renewables policies, the Australian Chamber of Commerce and Industry has said today.
Chief Executive James Pearson said:
“The status quo is not an option. Solving our energy policy mess is urgent.
“Business has been clear, we want policy certainty. We need a viable energy plan that gets bipartisan support, and anything less than that is a failure.
“We will not attract the investment we need in developing affordable and reliable electricity supplies without durable policy settings that will last beyond the next change of government. Investments in energy generation are long-term investments – if investors think the next government could pull the rug out from underneath them, they’ll find other places to put their money.
“Without a bipartisan policy that achieves the support of the states and territories, we risk worst of all options – a patchwork of state and territory based policies.
“We need to consider that it is not just the Federal Parliament in play in energy policy, but it is also the actions of six state and two territory governments. If we cannot find a way forward that brings these groups together, we risk ending up with an even bigger mess.
“The Victorian Government has a 40 per cent Renewable Energy Target by 2025, and Queensland has an aspirational target of 50 per cent renewables by 2030. The ACT Government has a 100 per cent renewable energy target by 2020. This muddle of state and territory based policies distorts investment decisions which have national implications.
“When we talk about achieving bipartisan support for energy policy, it’s not just because we need durable policy settings to encourage investment, it is also because we need one consistent policy across the energy market.”