The Business Council of Australia has blasted the Morrison government’s energy plan, declaring it will exacerbate sovereign risk, interfere with market outcomes and discourage investment in critical infrastructure. On the underwriting of new power generation projects, Taylor said on Thursday the government would produce a shortlist of projects including gas, coal and hydro “by early next year”. The positioning over energy policy came as Labor unveiled its pre-election offering, including a $15bn program for driving the transformation in Australia’s energy system to low-emissions sources. Some business groups and energy stakeholders expressed concern that Labor’s interventionist policy of underwriting or directly funding new generation was problematic. “We have consistently called for a minimalist approach to market intervention,” the BCA said in response to the Labor policy.

Source: The Guardian November 22, 2018 16:52 UTC