Energy chaos to destroy Scomo’s reform agenda

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Via The Guardian:

Independent MP Zali Steggall has asked the auditor general to investigate a Morrison government scheme to underwrite gas, hydro and coal power, saying it lacks transparency and citing legal advice that the Coalition had no constitutional or legislative authority to introduce it.

Announced in late 2018 after the government abandoned Malcolm Turnbull’s proposed national energy guarantee, the underwriting new generation investment (Ungi) scheme promises public support for new dispatchable power generation projects to increase competition in the electricity grid. Twelve projects have been shortlisted, including six pumped hydro plants, five gas generators and an upgrade to the Vales Point coal-fired power plant.

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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.