08 OCTOBER 2014www.abc.net.au
Portland aluminium smelter encouraged by ALP's RET exclusion pledge
Edited by : AL CIRCLE
1 min read
The operator of the Portland aluminium smelter has applauded the Federal Opposition's move to exclude the sector from Renewable Energy Target (RET) negotiations.
The Federal Government and Labor are in negotiations over the future of the 20 per cent by 2020 renewable target.
Aluminium smelters are already partially exempt from the target but the Opposition has agreed to fully exempt the sector from the RET.
The Portland facility employs more than 500 people and exports more than $500 million worth of aluminium to Asia annually.
Operator Alcoa says the target significantly impacts its international competitiveness.
Australian Aluminium Council executive director Miles Prosser says it is a major breakthrough.
"The RET cost would be a very significant part of their future cost structure and they'd be looking to manage that as best they can," he said.
He says the RET costs Portland Aluminium millions of dollars annually.
"Those sort of levels, it's enough to threaten the viability of those facilities," he said.
Portland Aluminium uses about 8 per cent of Victoria's total electricity.
The Federal Government and Labor are in negotiations over the future of the 20 per cent by 2020 renewable target.
Aluminium smelters are already partially exempt from the target but the Opposition has agreed to fully exempt the sector from the RET.
The Portland facility employs more than 500 people and exports more than $500 million worth of aluminium to Asia annually.
Operator Alcoa says the target significantly impacts its international competitiveness.
Australian Aluminium Council executive director Miles Prosser says it is a major breakthrough.
"The RET cost would be a very significant part of their future cost structure and they'd be looking to manage that as best they can," he said.
He says the RET costs Portland Aluminium millions of dollars annually.
"Those sort of levels, it's enough to threaten the viability of those facilities," he said.
Portland Aluminium uses about 8 per cent of Victoria's total electricity.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Alcoa angles for a shield against China
Next articleHydro takes a stand at the Aluminium 2014 fair
Grow with
AL Circle
