On the face of it a twin-pronged system focusing on reliability and environmental outcomes could have appeal. But we just don’t know because the details of Malcolm Turnbull’s National Energy Guarantee (NEG), and even the basics of how it will work, have not been explained.
As one clean energy advocate said on Tuesday: “We’re still trying to understand whether we love or hate the NEG”. Part of that hesitation is based around the oft-made assumption that it might be better to have something, rather than nothing. But that remains to be seen.
The mainstream media certainly embraced it, but analysts see red flags all over the place – it is potentially bad news for renewables, bad news for emissions, and bad news for prices. It is potentially Turnbull’s energy trilemma turned upside down.
Most of all, the proposal appears to be the most ill-considered, poorly detailed and potentially useless policy that anyone can remember – the work of Australia’s so-called “energy mafia” hungry to defend the power of the incumbent oligopoly, commercial interests and their ideology.
Read the RenewEconomy story by Giles Parkinson - “Why Turnbull’s plan could be disaster for renewables climate prices.”
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