Why big energy wants to kill the LRET

Fossil fuel generators are agitating for the Renewable Energy Target to be curbed or scrapped. All because it is causing energy prices to fall and is crimping their returns.

Ever heard of the merit order effect? Readers of this column may be familiar with it, because it is emerging as a key issue in the Australian electricity sector, and a flashpoint between the established fossil fuel generators and the new wave of renewable energy technologies, and a conflict between short term profits and long term gains.

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