Boyne Smelter hails Labor RET announcement

BOYNE Smelters Limited has welcomed the announcement of Labor's position on the Renewable Energy Target.

Opposition Leader Bill Shorten today that Labor would support a minimum target of 33,500 gigawatt hours of renewable energy - down from the previous bipartisan target of 41,000GWh by 2020.

"We call upon Tony Abbott and his Liberal government to save the renewable energy sector, not kill it," Mr Shorten said.

However, Industry Minister Ian Macfarlane said the 32,000GWh target was the government's "final position".

"The renewable energy target is now as high as we can possibly put it without putting in jeopardy the stability of the scheme," Mr Macfarlane said.

"We can get a deal today if they agree to 32,000 gigawatt hours."

Boyne Smelters Limited general manager of operations Joe Rea already had his fingers crossed that MPs and senators would agree on a 100% exemption for the ailing aluminium industry.

"The positions of the government and the ALP on the RET are now very close."

"A deal on RET would include a 100% exemption for all Emissions Intense Trade Exposed industries including aluminium and will remove this regulatory burden to our industry, which is currently costing BSL about $25 million per year."