Labor refuses invitation to resume renewable energy target negotiations

#Energy

Opposition says it will resume talks if the Coalition takes a ‘more credible’ approach but that no concessions have been made

Labor has rebuffed an invitation from the Abbott government to resume negotiations over the renewable energy target because no specific concessions were offered to break the deadlock between the major parties.

The environment minister, Greg Hunt, and industry minister, Ian Macfarlane, wrote to Labor ministers on Thursday asking them to return to the negotiating table because the current stalemate will eventually cause electricity prices to rise, new investments to stall and existing projects to be forced into financial administration because they could not refinance.

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