These organisations, along with the Australian Aluminium Council, the Bureau of Steel Manufacturers of Australia, the Cement Industry Federation, the Energy Users Association of Australia and the Tasmanian Minerals and Energy Council, collectively employ millions of Australians, produce hundreds of billions of dollars of products annually, and have invested heavily in Australia over many decades.
"We acknowledge the goodwill from the Australian government in moving from a position in the high 20,000s to 32,000 gigawatt hours and the equivalent goodwill from the opposition in moving from a position in the high thirty thousands to 33,500GWh," they said.
"These positions are now close and we ask both sides to resolve the issue, with a compromise of 33,000GWh. That will provide a stable bipartisan basis for investment in energy supply including renewables, conventional energy and energy dependent industry.
“Failing to agree on the Renewable Energy Target will continue to block investment in renewable energy generation and in electricity supply. It will also impose significant unnecessary costs on industry that relies on electricity.”
A compromise on the horizon?
These business groups may soon get what they've asked for.
According to a Fairfax Media report, Labor leader Bill Shorten said his party was willing to compromise with the government on a target of 33,000GWh by 2020.
This signals a shift in Labor's position and could end the impasse.
"This game has gone on too long, the government is killing the renewable energy industry.
“We will have a look at it, if they say 33,000, if they are serious and whether industry could live with it, and we will take it to our caucus," Shorten told ABC Radio National.
Prime Minister Tony Abbott has welcomed Labor's willingness to compromise but did not comment on whether the Coalition would move as well.
"It's for ministers [Ian] Macfarlane and [Greg] Hunt to finalise any arrangements that might, as I said, keep power prices down and protect jobs because that's what this has got to be all about – keeping power prices down and protecting jobs," Abbott told Fairfax Media.
