ETS defeated today
As expected, federal parliament has voted against the Emissions Trading Scheme (ETS) today. Senator Wong said it will be brought back into parliament before the end of the year. If defeated again, this could trigger an election.
The renewable energy industry is hoping that the Renewable Energy Target (RET) legislation is decoupled from the troubled ETS legislation to at least return some certainty to this industry. The RET scheme plans to achieve a goal of 20% of electricity coming from renewable sources by 2020 which would lead to a boom in the wind and solar power sectors.
A Senate committee report on the draft laws shows strong support from all political parties, but they want some changes too.
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