Malcolm Turnbull launches three-pronged attack on power prices
The Turnbull government has announced a three-pronged intervention to try and lower energy prices by restricting gas exports, abolishing an appeals mechanism used to set high prices, and potentially finance the building of power plants.
The announcement followed a meeting of the Coalition party room at which 49 of the 50 recommendations by Chief Scientist Alan Finkel were adopted. A clean energy target was not adopted but Energy MInster Josh Frydenberg said such a scheme was still under consideration and would be developed in consultation with stakeholders.
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