Albanese budget scraps ‘risky’ Coalition plan to underwrite new power generation
by Paul Karp from on (#6530Q)
Exclusive: Scheme had been criticised as a slush fund' that could have cost billions and pushed up power prices
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The Albanese government has scrapped the Coalition's electricity underwriting scheme. Critics had warned it could cost billions to prop up fossil fuels and would push up power prices.
On Monday, the industry minister, Ed Husic, repealed the instrument that enabled federal funding for energy generation projects, a pet scheme of the former Liberal energy minister Angus Taylor.
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