Seven years after he launched a ground-breaking study showing how Australia could re-power with 100% renewable energy by 2020, Malcolm Turnbull, now Prime Minister, has announced a “National Energy Guarantee” (NEG) policy that will have no renewable energy target.
Clean Energy Target
Finally, the federal government has a policy for the electricity sector: the National Energy Guarantee. (NEG. Did it think this one through?)
It is, effectively, an emissions trading scheme applied to electricity. It is similar to other schemes — the Clean Energy Target (CET) and the Emissions Intensity Scheme (EIS) — supported by Labor.
Australia’s Chief Scientist Alan Finkel presented the Blueprint for the future: Independent review into the future security of the national electricity market, known as the Finkel Review, to the Council of Australian Governments (COAG) Leaders’ meeting on June 9.
The mainstream media has focused on one recommendation — a Clean Energy Target — and the Coalition’s reaction.