delete Renewable Energy (Electricity) Amendment Regulations 2003 (No. 2)
Amends the Renewable Energy (Electricity) Regulations 2001 to modify the Mandatory Renewable Energy Target scheme, likely increasing renewable energy obligations for electricity retailers and generators.
Imposes substantial compliance costs that are passed to consumers via higher electricity prices. It distorts market investment toward politically favored renewables rather than cost-effective energy, causing capital misallocation. The environmental benefits do not justify the billions in hidden costs; a market-based mechanism like carbon pricing would achieve the same goals more efficiently with less bureaucratic overhead and rent-seeking.