RET will not be replaced after 2020

Angus Taylor being sworn in as Energy Minister by Australian Governor-General Sir Peter Cosgrove

Federal Energy Minister Angus Taylor has said the renewable energy target (RET) will not be replaced after 2020.

During Parliament Question Time this week, Mr Taylor was asked by Greens MP Adam Bandt asked him if he would extend the RET to 2022.

“Of course, the truth of the matter is the renewable energy target is going to wind down from 2020, it reaches its peak in 2020, and we won’t be replacing that with anything. We know that,” Mr Taylor said.

Earlier this week, Mr Taylor wrote an opinion piece for the Australian Financial Review, in which he said the Federal Government would back investment in baseload generation.

He said renewable energy targets were driving power prices up.

“We will force divestments if necessary. Opening up our abundant natural resources – gas, coal, water and the sun – will ensure Australians receive the cheapest and most reliable electricity,” he said.

“The renewable energy targets in Victoria, Queensland and the ACT are dramatically worsening this situation, with unprecedented additions of intermittent wind and solar putting pressure on reliable baseload generators to exit.”