Ron Boswell (Queensland, National Party) Share this | Hansard source

My question is to the Minister for Climate Change, Energy Efficiency and Water, Senator Wong. I refer the minister to the $220 million co-generation plant established by New South Wales Sugar Milling Co-operative to produce renewable energy to help meet the nation’s 20 per cent renewable energy target. Is the minister aware that this massive investment was financed on the then reasonable basis that the renewable energy credits would be worth approximately $50? Is the minister further aware that since solar renewable credits flooded the market last year the REC price dropped to $24—it has come up a bit—making the plant so unviable that the receivers are expected later this week?