A revolt is brewing within the Coalition over the proposed National Energy Guarantee with at least one third of National Party MPs and Senators opposed to the policy and demanding the government instead intervene more directly in the market to lower prices.
Conservative Party leader Cory Bernardi says there is no real leadership on principle or values over energy policy.
The Australian Financial Review reports , the NEG which, in part, was designed to placate climate rebels in the Coalition, aims to reduce emissions while at the same time meeting reliability standards.
Energy retailers would have to source power that meets reliability targets and reduces emissions by 26 per cent over 2005 levels by 2030.
While Labor and the clean energy sector see this 26 per cent target as inadequate, the Coalition rebels see it as either too high or completely unnecessary.
Senator Bernardi has told Chris Kenny on Sky News the major parties won’t fix the problem because they are both too interventionist and are too heavily influenced by green ideology when it comes to energy policy.
To read Phillip Coorey’s full article, click here.