While the government characterised its new energy guarantee as a “game changer”, Labor quickly blasted the decision to dump the clean energy target recommended by the chief scientist, Alan Finkel. A handful of government MPs, including Tony Abbott, expressed objections to the emissions reduction element of the overhaul during party room debate. The government says the new emissions reduction target for electricity will likely be 26% on 2005 levels by 2030. But Finkel gave the proposal, cautious endorsement, suggesting the approach was “logical” and would likely to have a similar price impact to the clean energy target modelled in his review. The Australian Industry Group chief executive, Innes Willox, said the proposal “offers a plausible new direction for energy policy with a welcome focus on energy security”.

Source: The Guardian October 17, 2017 06:41 UTC