Reducing the national Renewable Energy Target (RET) would generate $10 billion in extra profit over the next 15 years for owners of coal and gas-fired power plants while consumers pay more, according to new analysis commissioned by green groups.

EnergyAustralia and Origin Energy, which have led calls to cut the RET from its current mandatory goal of supplying 41,000 gigawatt-hours of renewable energy by 2020 to a precise 20 per cent, would be among the biggest winners.

Up in the air: the future of Australia's renewable energy industry. Credit:Stefan Moore

A move to a 20 per cent goal would deliver $1.9 billion in extra profit to Energy Australia during 2015-2030, in current-dollar terms, while Origin would pocket $1.5 billion, according to modelling by Jacobs Group for The Climate Institute, Australian Conservation Foundation and WWF-Australia.

AGL’s gains would swell to $2.7 billion if its bid to buy NSW state-owned Macquarie Generation plants succeeds.