Australian EconomyAustralian LNG

Do-nothing energy guarantee delivers absolutely nothing

David Llewellyn-Smith
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Via the AFR:

State Labor governments are expected to support the Turnbull government’s National Energy Guarantee at Friday’s Council of Australian Governments energy council meeting, but are keen to ensure a future Labor government can increase carbon emission reduction targets.

In what is shaping as a major victory for federal Energy Minister Josh Frydenberg – who has been facing a rearguard action from his conservative backbench colleagues over the future of coal in the National Electricity Market – Victoria, Queensland and the ACT are expected to give in-principle agreement to the NEG and commit to further work to resolve concerns about the details of the plan, which will put an emissions target on the electricity sector.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.