Retreat on Paris emissions target may not save Malcolm Turnbull

Retreat on Paris emissions target may not save Malcolm Turnbull, by Simon Benson.

Malcolm Turnbull has dumped the government’s plans to legislate the 26 per cent Paris emissions-­reduction target, in a dramatic ­capitulation to rebel MPs and ministers threatening to cross the floor and vote it down. …

Under the backdown, the 2015 climate change commitment would be retained but mandated through a ministerial order and only after advice from the competition regulator that it would not ­increase power prices. …

The changes to the energy shake-up were swiftly condemned by Tony Abbott, who told The Weekend Australian he was concerned about whether the new plan would allow a future Shorten government to ramp up emissions-reduction targets more easily.

The Weekend Australian has also confirmed the Prime Minister will pursue an aggressive campaign to force down energy bills that will include arming the Australian Competition & Consumer Commission with divestiture powers to strip the big three energy ­companies of generation assets if their early closure leads to higher prices.