Alan Kohler is one of Australia’s most experienced business commentators. Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. Alan is the regular finance presenter on the ABC News and producer of the popular nightly graph (or two).
AGL's Michael Fraser claims investors no longer have confidence in RET sufficient to support investment in new projects, suggests we need new policy framework which also encourages exit of old generators. Self-serving - yes, but can we restore investor confidence?
Apparently we need to slash the RET to reduce power bills. That's what they also said about the repealing the carbon tax. So what do the latest inflation figures show we actually saved and can we trust them that this isn't just about helping out their corporate mates?
There's no technical limit preventing more than 20% renewable energy in a power system, with experts saying Australia could reach 90% renewable electricity by 2040 by natural attrition of existing fossil fuel power stations.
Labor's Bill Shorten has said dismissed the idea of slashing the RET to a 'real 20%' describing it as vandalism and unreal. Meanwhile Minister Hunt continues to talk about the target as being 20%, but there's a face saving opportunity for the Coalition to compromise.
Speculation is rife aluminium has won itself a full exemption from the RET - up from 70% - and that means a reduced target. But is that right, and why are we exempting so many other industries at the expense of other consumers?