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18 October 2017 – 02:35pm
Origin will forge ahead with its renewable energy plans, despite new a government energy policy requiring more coal-fired power.
Speaking at its annual general meeting, Origin chief executive Frank Calabria said the company planned to have renewable energy generation accounting for 25 per cent of its portfolio by 2020, despite the federal government’s National Energy Guarantee which will require more coal and gas-fired power generation.
Origin chairman Gordon Cairns said the company would adopt a company-wide, science-based emissions reduction target by the end of the year on top of its renewables plan.
“Encouraging investment in new supply is a critical piece of the puzzle, and we have urged governments to resist intervening in short-term policy and instead focus on getting the long-term energy and climate change settings right,” Mr Cairns said.
“We urgently need policy certainty. We cannot wait until 2020 for investment decisions to be made if we are to meet Australia’s 2030 emissions reduction target,” he said.