Passage of RET legislation crucial to the future of renewable energy investment
22 June 2009
AGL Energy Limited (AGL) today expressed frustration at the deferral of the Renewable Energy Target (RET) legislation to a Senate committee, saying it was vital that the legislation be passed as soon as possible. AGL is a strong supporter of the 45,000GWh RET scheme.
AGL Managing Director, Michael Fraser, said: “The Commonwealth’s RET legislation is sensible policy that will provide certainty for investors, create jobs and set Australia on a measured transition path to a low carbon future.”
“This policy will contribute significantly to reducing Australia’s greenhouse gas emissions and is complementary to the Carbon Pollution Reduction Scheme.
Mr Fraser added: “This legislation is a crucial stimulus package in supporting new renewable energy projects. While our clear preference is for the RET legislation to pass in the current session of Parliament, if it does not then we hope that the Senate will move to pass it in the next session.”
“It is disappointing to see this important legislation, which has bipartisan support, used as a political football in the Senate. This unnecessary delay will impose additional pressures on an industry which is working very hard to promote job creation in a challenging economic climate.”
Following construction of wind farms at Hallett 2 and Hallett 4 in mid north South Australia, AGL will control the operation of almost 1,300MW of renewable energy capacity with an additional pipeline of approximately 2,000MW of identified renewable generation opportunities
Further inquiries:
Media
Andrew Scannell, Head of Media
Direct: + 61 3 8633 6167
Mobile: + 61 (0) 407 290 658
e-mail: ascannell@agl.com.au
Nathan Vass, Senior Media Adviser
Direct: + 61 2 9921 2264
Mobile: + 61 (0) 405 040 133
e-mail: nvass@agl.com.au
About AGL
AGL is Australia’s largest integrated renewable energy company and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on over 170 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has Australia's largest retail energy and dual fuel customer base. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.
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