Deal made on renewable energy target

THE GOVERNMENT and Labor have met in the middle of renewable energy target scheme talks, a decision that could help save Boyne Smelters Ltd $25 million a year.

The parties came to a large scale renewable energy target of 33,000 gigawatt hours agreed upon in principle during talks today.

A proposal to include the burning of native timber in the scheme hasn't been confirmed, while the small scale rooftop solar scheme would remain untouched.

An agreement was supposed to be reached by the end of March.

The smelter has declined to comment on the deal until it is finalised, but general manager of operations Joe Rea has previously told The Observer that a deal on RET would include a 100% exemption for all Emissions Intense Trade Exposed industries including aluminium.

"(It) will remove this regulatory burden to our industry, which is currently costing BSL about $25million per year," he said.