Energy Minister hints at end to clean energy target

Energy Minister hints at end to clean energy target

Australian energy minister Josh Frydenberg has called for balanced investment into the Australian energy sector.

There is growing speculation that the Australian government will abandon the clean energy target recommended by the Finkel report. The clean energy target offers subsidies to renewable energy resources.

Speaking at an energy summit on Monday the Minister said: “What they’re looking for is a settled bipartisan investment climate whether there are subsidies or not.”

Previously Mr Frydenberg has stressed the Australian government’s technological neutral approach to energy. He said: “If that’s coal, or gas, or renewables with storage, or a combination of the above, then we’ll be prepared to support it.”

Australia currently gets over 60% of its power from coal. The minister stressed that investment in different fuels was based around economic criteria. He added: “If new coal is built, if the market supports that, then we will support that.”

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