Today’s announcement of in-principle bipartisan agreement on the Renewable Energy Target is an encouraging development.

Hydro Tasmania is the largest renewable energy generator in Australia, producing approximately 10 000GWh of renewable energy per annum.

Hydropower contributes half the renewable energy generated in Australia, and maintaining and potentially increasing the contribution of hydropower is an important part of the renewable energy mix.

Hydro Tasmania believes that the electricity sector is central to any national action to reduce emissions and can be a source of significant abatement. The RET is a key policy for transitioning the sector. It makes an important and substantial contribution to meeting the five per cent national emissions reduction target without putting pressure on the Federal Budget.

We look forward to delivery of a clear and stable policy position to provide investment certainty for developers and owners.

Ends.

Released by Samantha Meyer, 03 6230 5746