Victoria’s NEG compromise can unlock clean energy investment

Proposals released today by the Victorian government to improve the National Energy Guarantee can help unlock clean energy investment across Australia, Environment Victoria said.

“The Turnbull government’s proposed National Energy Guarantee’s pollution reduction target is a disaster for renewables investment in Australia,” said Environment Victoria Campaigns Manager, Dr Nicholas Aberle.

“Independent analysis by the Energy Security Board shows this weak target would smash renewable energy investment in Victoria, putting at risk thousands of jobs and putting upward pressure on power prices.

“The mechanism of the Guarantee itself is a workable policy, but the Turnbull’s government’s do-nothing clean energy target and their insistence this target is locked in for as long as possible is crushing its credibility.

“The compromise proposals from the Victorian government to allow future governments to ramp up clean energy investment under the Guarantee need to be considered by the Turnbull government.

“Thanks to policies like Victorian Renewable Energy Target we have thirty-nine large-scale renewable energy projects either in action or under construction in Victoria. This is reducing carbon pollution and power prices.

“Governments need to build on Victoria’s clean energy success, not step back into the coal age.

“Victoria needs bipartisan support for effective state and federal policies that will actually drive down pollution and power prices while creating jobs.

“A workable outcome on the National Energy Guarantee is possible but it requires the Turnbull government to drop its no-compromise stance when it comes to national clean energy targets,” Dr Aberle said.