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Media Release
Senator the Hon Robert Hill
Leader of the Government in the Senate
Minister for the Environment and Heritage

9 November 2000

Billions of dollars in Australian Investment At Risk


Federal Environment Minister Robert Hill today warned the Democrats and the Labor Party they are placing more than $2 billion worth of investment in the Australian Renewable Energy Industry at risk.

The Democrats and Labor are refusing to pass the Commonwealth Government's Renewable Energy Bill in the Senate.

The Bill, if passed, will ensure a guaranteed market for up to 9,500 giga watt hours of electricity per year - enough residential electricity to power a city the size of Sydney each year.

Senator Hill said the bill would provide a huge incentive for renewable electricity generators to invest in new generating capacity.

"Without this incentive between $2-3b of investment will be lost to Australia," Senator Hill said.

"The Democrats' and the Labor Party's so-called environmental credentials are in tatters over their politically driven delaying tactics on this Bill.

"The Government alone is holding the interests of the renewable energy industry and the greenhouse problem foremost in mind as it works towards negotiating this legislation through the Parliament."

Senator Hill called on the Democrats and the Labor Party to pass the bill.

"Stop playing political Russian Roulette with the renewable energy industry in this country," he said.

November 9, 2000

Contact: Belinda Huppatz 02 62777640 or 0419 258364

Commonwealth of Australia