Energy report not enough: Climate Council

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"I mean it's disgraceful, just go through it again, 2013 - Tony Abbott destroyed a working carbon price, he wrecked it and now he's in the party room wrecking all this again", Labor MP Wayne Swan said, referring to Abbott's move to axe the former Labor government's carbon pricing regime. Earlier in the week, Abbott had called the clean energy target a "tax on coal" and a "magic pudding".

That's despite recent economic modelling making it clear that doing nothing in the electricity sector and continuing with the policies brought in under Abbott would hurt new coal developments and push power bills up.

"The reports. are simplistic and do not really relate the burden of responsibility that the coalition is carrying on their shoulders at the moment", he told reporters in Canberra on Wednesday. Finance minister Mathias Cormann, speaking on ABC 24, called Tuesday "a good meeting" and an "important discussion", not biting when posed questions about reports of one Coalition MP reportedly telling Fairfax "Malcolm could lose his leadership over this". Even so, this is unlikely to placate all the backbench rebels and also runs the risk of Labor withdrawing its offer of bipartisan support because it can not accept a policy that designates coal as a clean emissions source.

Some, such as SA Liberal Tony Pasin demanded direct intervention to lower gas prices while others said the government should reduce emissions using cheap worldwide carbon permits.

It would be up to governments to decide whether a new coal-fired power station would be built once a business case has been made, he said.

Opposition Leader Bill Shorten said that clean energy target was a sensible proposal that should have been taken seriously. The most expensive option in terms of power prices would be to do nothing, Dr Finkel said.

"What Australians want is national policy certainty, so that we can have lower electricity prices".

"It would appear that chaos is the order of the day for Malcolm Turnbull and his Liberal party room".

"The Abbott-Turnbull wars are back", he told reporters.

As tempers frayed, a frustrated Mr Turnbull took an apparent swipe at his predecessor for reducing climate policy debate to "glib" slogans on Wednesday.

"Incentives for new investment in new low-emission baseload power generation need to be set now". Renewable energy plants could then partner with other forms of generation such as energy storage to meet these requirements. These MPs have expressed concern that the CET will disadvantage coal.

Even so, only an energy source with a baseline of zero, such as wind, solar, or hydro, would receive a full certificate for each MWh of electricity they generate.

George Christensen has told SKY NEWS LIVE he will not "countenance" voting for a CET that excludes coal.

Based on the current energy mix and expected growth, Australia's emissions in 2030 are projected to be about 57 percent higher than its target of 290 million tonnes under the Paris climate accord, the nation's top research body has said. "They are absolutely at war over the Finkel report and the tragedy is that the Australian people are the losers from it". Firstly, power generation firms such as AGL, Origin and Energy Australia have been delaying investment in power infrastructure because of the terrible political uncertainty of the "carbon wars".

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