Aussie Labour Party willing to resume RET talks - report

Dec 5, 2014 - The opposition Labor Party in Australia is eager to reopen negotiations with the ruling party over the Renewable Energy Target (RET), the Australian Broadcasting Corporation (ABC) said today.

The Labour Party’s decision was announced by its leader Bill Shorten, who gave a deadline until Christmas and said the Labour Party is prepared to negotiate within clear parameters.

The decision comes just a week after the opposition said it will not resume the talks unless the government “takes a more credible approach to securing the future of this vital industry".

In October, Australia’s ruling party presented a proposal to cut the RET to a "real" 20% of demand in 2020, or around 26,000-27,000 GWh, in line with falling power consumption This would be a significant reduction from the existing 41,000 GWh annual renewable power target for the end of the decade. The Labour Party did not accept the proposal, stating that the reduction would represent a 40% cut to the target. After prolonged negotiations it abandoned the talks.

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