In defence of renewable energy targets

Power prices are a hot political topic. While politicians argue about who is to blame for higher prices, the renewable energy target (RET) is also being reviewed. The RET has been the focus of considerable debate since the introduction of the carbon pricing scheme. Critics of the target argue that it is redundant or that it interferes with the working of the carbon pricing scheme leading to a distortion of market processes. Australian industry groups, such as the Australian Chamber of Commerce and Industry, highlight the costs to consumers and other energy users and are calling for it to be abolished