Following on from last week’s meeting of State and Federal energy ministers, in which State ministers gave in-principle support for the National Energy Guarantee (NEG) to progress in its current form, the Federal Coalition party room this week approved the Prime Minister’s plan for a National Energy Guarantee, despite concerns of a number of backbench MPs including former prime minister, the Hon Tony Abbott MP.
The NEG is aimed at cutting emissions in the electricity sector by 26 per cent by 2030, to put downward pressure on energy bills and to ensure a reliable power supply by forcing power companies to continue to buy some electricity from sources like coal, gas, batteries or pumped hydro.
However, a number of Coalition party room members are threatening to cross the floor and vote against the NEG, saying they are worried the NEG will not reduce power prices enough.
A significant effort will be being made behind the scenes to garner the support of those members ahead of the return to Parliament next week.
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