David Leyonhjelm (NSW, Liberal Democratic Party) Share this | Hansard source

My question is to Senator Cormann, the Minister representing the Minister for the Environment. The government and the opposition have abandoned talks on reform of the Renewable Energy Target. There is growing concern that, without extra generating capacity being introduced quickly into the scheme, the already legislated penalty rate of $65 will be applied to renewable energy certificates within two years. This will take the cost of renewable energy certificates to an unprecedented $95 or more at current levels, thereby directly impacting on electricity prices. Does the government accept that the scheme in its current form will not achieve the 41,000 gigawatt-hour target by 2020, therefore triggering in the renewable energy certificate penalty rate?