By business reporter Pat McGrath and staff Financial news and data firm Bloomberg has warned that billions of dollars in investment and thousands of jobs could be lost if the renewable energy target is scrapped. Australia's pledge to use renewable energy sources to produce 20 per cent of its power by 2020 is currently being reviewed by an expert panel, amidst arguments that it has pushed up electricity prices. However, the Bloomberg report argues that renewables are actually placed to put downward pressure on electricity prices. It also warns that the current uncertainty over renewable energy policy is already seeing investment delayed or cancelled. More » |
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