Scheme had been criticised as a ‘slush fund’ that could have cost billions and pushed up power prices
- Get our morning and afternoon news emails, free app or daily news podcast
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On Monday, the industry minister, Ed Husic, repealed the instrument that enabled federal funding for energy generation projects, a pet scheme of the former Liberal energy minister Angus Taylor.
Sign up for our free morning newsletter and afternoon email to get your daily news roundup