Energy experts have cast doubt over the Liberal Party's central claim that it can bring down power prices by backing coal and gas, while questioning how the party plans to reduce emissions.
The Liberals yesterday abandoned a target to reach net zero emissions by 2050, saying it was driving Australia harder than is fair and leading to unsustainable energy price increases.
The party vowed to unpick many of the mechanisms being used to drive down CO2 emissions.
Opposition Leader Sussan Ley committed her party instead to reducing emissions at a pace with other comparable nations and meanwhile proposed putting public money into coal and gas projects instead of "picking favourites" with wind and solar.
What does net zero mean? The Liberal shadow ministry has agreed to dump net zero by 2050 from the party’s platform. Here's what that term actually means.
The Liberals would change the rules for finance vehicles like the Clean Energy Finance Corporation to allow them to invest in fossil fuels and would rewrite one of the single largest drivers of new wind and solar power in Australia: the imaginatively-named Capacity Investment Scheme.
Projects covered by the Capacity Investment Scheme are guaranteed a certain amount of revenue — if the price for wind or solar powe
Continue Reading on ABC News Australia
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.