Clean Energy Target dumped by Coalition in favour of Malcolm Turnbull's new plan, a National Energy Guarantee

A meeting of the Coalition party room has agreed to ditch the Clean Energy Target (CET).

Josh Frydenberg, Malcolm Turnbull and John Pierce.

MPs today signed off on a new plan that Prime Minister Malcolm Turnbull argues will make power bills cheaper and more reliable while still cutting carbon emissions.

That plan replaces the CET with a National Energy Guarantee (NEG), which requires retailers to use a percentage of electricity from so-called dispatchable sources such as coal and gas, batteries or pumped hydro.

That would ensure they meet their obligation to deliver reliable power.

The decision came after the Cabinet last night agreed to dump the CET recommended by Chief Scientist Alan Finkel.

Read the ABC News story by Louise Yaxley - “Clean Energy Target dumped by Coalition in favour of Malcolm Turnbull's new plan, a National Energy Guarantee.”