Free market think tank the Institute of Public Affairs has today sent all Federal Parliamentarians a new Research Brief highlighting the ‘Five Unanswered Questions from the Finkel Review.’
IPA research has been critical in framing the debate around climate change policy over the past decade.
“This debate should not be about how best to manage the decline of coal. It should be about how to reduce energy costs and restore security to our electricity networks,” said Brett Hogan, IPA Director of Research.
“It is particularly disappointing that a review set up to deal with the fallout from the South Australian blackout of last September appears to have tailored all of its recommendations to an out-of-scope desire to reduce carbon dioxide emissions to zero after 2050.”
“A truly visionary Review would have recommended abolishing the Renewable Energy Target, opposed all forms of carbon pricing, and advocated for the removal of federal and state legislative bans on gas, uranium exploration and nuclear power.”
“If the Turnbull Government implements the recommendations of this report, then it will wear the inevitable prices rises, and the subsequent ramping up of the Clean Energy Target by the next Labor or Labor/Greens Government.”
“Instead, government should retreat from the micro-management of the National Electricity Market, to allow it to actually work.”
“Federal and State Parliaments should immediately abolish the Renewable Energy Target, Clean Energy Finance Corporation, Australian Renewable Energy Agency, and all other forms of taxpayer support for ‘preferred’ energy technologies, including state renewable energy targets, as well as ensure that the cost of making up for the shortfalls in intermittent generation is met by those generators. “
“Failing that, the Renewable Energy Target should be abolished, intermittent generators be required to account for shortfalls and any Clean Energy Target set at a level that gives all technologies a fair chance of competing in the marketplace without penalty, for example 800 kg/MWh for black coal and 900 kg/MWh for brown coal,“ said Mr Hogan.
The Parliamentary Research Brief is available here.
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