Coalitions renewable energy review an unprecedented scam, industry says

Review assumes fossil fuel investors wont need to factor in any risk due to climate policies for decades

The renewable energy industry has labelled a controversial Abbott government review an unprecedented scam and a stitch-up after learning that it was conducting electricity industry modelling on the assumption there would be no risk or cost to investments in coal-fired power stations in the next few decades.

The review of the renewable energy target headed by veteran businessman and self-professed climate sceptic Dick Warburton and its modellers from ACIL Allen consulting held a workshop with industry participants on Wednesday at which they revealed the modelling would assume investors in fossil fuel generation would not need to factor in any risk due to climate policies for decades neither a carbon price, nor a requirement to invest in emission-reducing technologies, nor any cost from any other government policy or regulation.

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