Labor is not planning on increasing the Renewable Energy Target (RET) to 50 per cent.  If Mr Vass can’t get that basic fact right, the rest of his opinion piece has zero credibility.

Labor is committed to resurrecting the National Energy Guarantee (NEG) with a 45 per cent emissions reduction target.

We have signalled that if that fails to get bipartisan support we will deliver our commitment to 50 per cent renewable energy through a 10-year Energy Investment Plan that will provide certainty.

We need this certainty to drive the investment we desperately need in new power generation.

Our existing power stations are rapidly ageing and have reliability issues.

On the 45 degree day last year (February 10) we lost almost 1700 megawatts of coal fired power due to the high temperature and age of the coal fired plants.  This led to Tomago aluminium smelter being shut down temporarily. 

Without this investment certainty electricity prices will continue to rise and blackouts will occur.  For example when the Coalition government walked away from the NEG in August, during a 14-day period where the government had four different energy policies, electricity prices skyrocketed; wholesale electricity prices increased by over 122 per cent.

That is, prices for generating electricity doubled due to the government taking away hope of investor certainty by dropping the NEG.

The Australian Energy Market Operator (AEMO) forecasts that eight coal fired power stations, including all four Hunter stations, will close in the next 15-20 years.

This is due to the age of the stations with 75 per cent of Australian power stations operating beyond their original design life.

They key issue is how do we replace them at least cost to households and industry while reducing our carbon pollution?

We are in the lucky position that the cheapest replacement is also the cleanest.

According to AEMO this is renewable energy backed up by pumped hydro storage and gas to make the energy completely reliable.

This is confirmed by public statements made by Origin energy, owner of Australia’s largest power station Eraring, that new unsubsidised renewable energy is not only cheaper than building new coal fired power stations, but is cheaper than running existing coal fired power stations.

Mr Vass is in fact arguing for higher power prices and he is doing a grave disservice to our region and the nation by saying that nothing has to change.

Ultimately it’s up to energy companies to put their money where their mouth is and the last coal fired power station began construction in Australia at the turn of the century.

So called HELE (high efficiency low emissions) plants are neither low emissions nor cheap. It’s impossible for ageing coal-fired power stations to stay open forever. It’s irresponsible to pretend otherwise.

Australia must have a plan to help workers and communities respond to future closures. Labor will implement a long-term plan to ensure workers are supported and are first in line for new job opportunities.  This is one part of our Just Transitions policy.

Our power system and our coal exports are two separate things.  I welcome the thousands of jobs that our coal exports provide and I always highlight the fact that our region was built on the sacrifices of coal miners.

The vast majority of Hunter coal is exported and this will continue.

Labor’s policy of supporting a NEG with a 45 per cent  emissions reduction target has been overwhelmingly supported by the energy industry, unions and environment groups.

This will deliver 50 per cent renewable energy in a planned way that ensures that electricity is as cheap as possible and reliable. 

Modelling undertaken by RepuTex shows that 50 per cent renewable energy plan will lead to wholesale energy prices being 25 per cent lower.

Furthermore, a study by the Australia Institute has found that under Labor’s plan we will see up to 71,000 good jobs created for Australians in construction, installation, operation and maintenance of renewable energy.

It’s time for Mr Vass to face facts and not pursue his ideological crusade that will hurt the Hunter.