The Crisafulli government will scrap Queensland’s renewable energy target and tap the private sector to cover cost blowouts to pumped hydro and transmission projects in a sweeping policy rewrite that puts the affordability and security of supply above climate concerns.

Energy Minister David Janetzki insisted the state will still meet its net zero emissions by 2050 despite extending the life of state-owned, coal-powered generators and leaning further on gas as an energy grid “backstop”.