Abolishing renewable energy target offers short-term gain, long-term pain

Modelling commissioned by Clean Energy Council says average household would pay $50 less a year in 2020 under RET

Abolishing the renewable energy target would deliver small reductions in household electricity bills for the next three years, but after that bills would soar, new modelling shows.

Tony Abbott has signalled the governments review of the renewable energy target could pare back or even scrap the scheme because, the prime minister says, it is causing pretty significant price pressure in the system and we ought to be an affordable energy superpower.

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