The agreement includes a number of amendments to the RET legislation, including the replication the CPRS industry exemptions for emission-intensive trade-exposed (EITE) industries.

“In ten years time the amount of electricity coming from sources like solar, wind and geothermal will be around the same as all of Australia’s current household electricity use,” said Climate Change Minister Penny Wong.

The amendments include:

  • Setting aside the link between the RET and CPRS legislation
  • CPRS industry exemptions replicated under the RET for activities that would qualify for the emission-intensive trade-exposed (EITE) assistance, such as aluminium smelting and mining
  • The inclusion of waste coal mine gas under the RET
  • Scope for industries which may be affected by the RET, such as food processing, to refer their treatment to the Productivity Commission

    • Article continues below…

  • A tightening of regulations relating to RET eligibility for heat pumps.

Ms Wong said that the Government is particularly pleased the Opposition has agreed to the CPRS eligibility and rates of assistance, that will now be used for the RET to provide protection for EITE activities such as aluminum smelting.

“The Opposition has signed up for the same process and thresholds for defining EITE industries and the same categories of assistance as will apply to those industries under the CPRS,” Ms Wong said.

“[The] decision by the Government to accept our key concerns is a victory for common sense and it’s a victory for the environment and it’s a victory for renewable energy,” said shadow Climate Change Minister Greg Hunt.

However, Australian Greens Deputy Leader Christine Milne said that the Greens were disappointed with the outcome because of the exemptions to polluters that qualify under the emission-intensive trade-exposed industries.

“The renewable energy target is vital for the survival and future growth of this critical zero emissions industry, so it is a deep disappointment that the Government and Opposition have made a dirty deal to pollute it,” Ms Milne said.

Ms Wong said the Government looks forward to the Opposition now coming to the table on the CPRS. Click here for further details of the RET amendments.