[Greens-Media] O'Farrell handed solar bonus get out of jail card

[John Kaye]

O'Farrell handed solar bonus get out of jail card

Media release: 21 May 2011

The $759 million supposed black hole in the NSW Solar Bonus Scheme has been
overstated by $230 million and the remaining $529 million can be filled by
forcing the electricity retailers pay a fair price for the energy they
receive from rooftop panels, according to Greens NSW MP John Kaye.
('O'Farrell handed 60c solar solution' Sydney Morning Herald, 21 May 2011,
page 1,  http://j.mp/smh110521)

Dr Kaye said: "The scheme can be returned to the black without punishing the
110,00 households who invested in renewable energy on the basis of a
legislated promise of 60 cents per kilowatt-hour for the electricity they
produce.

"Premier O'Farrell does not need to slash bonus payments 40 cents.

"The political crisis engulfing the solar bonus crisis would be solved if
the O'Farrell government is prepared to force energy retailers to pay for
the energy they are currently getting for free.

"The $550 million that would be raised by ending the retailers' free ride
plus the $230 million overstatement in the government's figures would close
the black hole.

"The Greens are proposing a consensus solution. Existing participants can
keep the 60 cents bonus rate promised to them by parliament. The scheme can
be returned to the black without drawing down on state revenues and the
impact on household power bills can be limited.

"The solar industry will have a future with some security for the 5,300
employees.

"Only the privatised electricity retailers will be unhappy as they lose
their $100 million annual windfall profit from free solar energy.

"It's time they paid their way.

"It is much better to strip retailers of a windfall profit they don't
deserve than punish 110,000 households for doing the right thing," Dr Kaye
said.


For more information:    John Kaye 0407 195 455


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John Kaye
Greens NSW MP
phone: 0407 195 455
web: www.john.nsw.greens.org.au
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