A couple of quick points on the clean energy target:
It has been clear from the moment Alan Finkel produced his report that the government would not implement his recommendation as modelled in his report – it would produce a mechanism which allowed incentives for coal.
There has been positioning inside the government on this point since Finkel produced his report in June. The Nationals have made it clear coal being in the mix is the price of their support.
Work inside the government continues on the clean energy target model, and the government now has a new report from the Australian Energy Market Operator which quantifies the shortfall once the Liddell power station exits the system.
The government is now speaking about an investment framework rather than a clean energy target as a means of pivoting away from the specific Finkel recommendation (which was a CET, minus coal) to something more fossil fuel-friendly which has some prospect of clearing the Coalition party room.
But even if the government can get an energy investment framework through the party room, it’s not clear whether Labor will support it.
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