By Tristan Edis
Can Abbott still tweak Clive's renewables target? 1) Its hand-picked economic modeller found that the Renewable Energy Target was likely to lower business and household electricity bills, and the further it is cut back the higher the impact on power bills. 2) Clive Palmer announced the PUP will block any amendments that would lower the target, at least until the government took any amendments to an election for formal endorsement.
It could mean they supported the policy as it stood at the time, which had become known in shorthand as the 20 per cent Renewable Energy Target (but was in fact more complicated than that), or it could mean a drastic cut back, such as a floating, or 'real', 20 per cent target.
For the average man in the street, of course, they’d have no idea that it might mean something different to Labor Government policy, which was also referred to as a 20 per cent Renewable Energy Target.
Read more here: Business Spectator