Blowout Week 199
Financial Times: Australia to abandon clean energy target
Australia plans to ditch its clean energy target aimed at curbing greenhouse gas emissions in favour of coal power generation, in a scheme that echoes US President Donald Trump’s energy policies.
Under a proposal announced on Tuesday, energy companies in Australia must deliver a certain level of dispatchable power from ready-to-use sources such as coal, gas, hydro or batteries. Canberra would also phase out subsidies for renewable energy from 2020. “Past energy plans have subsidised some industries, punished others and slugged consumers,” said Malcolm Turnbull, prime minister. “Our plan has no subsidies, no certificates and no tax”. Australia’s policy shift follows months of internal wrangling within the ruling coalition over a proposal for a clean energy target made by the country’s chief scientist. But under pressure from climate sceptic conservatives in his party, including arch-rival and former prime minister Tony Abbott, Mr Turnbull rejected the clean energy target — a move that is likely to spark a renewed ideological battle with the opposition.
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