The Albanese government’s flagship policy to drive the build-out of clean energy generation risks promoting low-quality projects and ones that won’t ever get built, the chief executives of AGL Energy and Andrew Forrest’s Squadron Energy have declared.

While both AGL chief executive Damien Nicks and Squadron’s Rob Wheals agreed that the impact of the Capacity Investment Scheme was positive in terms of driving more renewables into the market, they said the policy contained flaws that meant real reforms of the electricity market were still urgently needed.