Australia Edges Toward New Energy Policy After Decade of Turmoil
- States and territories give cautious backing to new plan
- Energy Minister Frydenberg targets final policy by August
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Australia may agree the final rules of its contentious National Energy Guarantee by August after winning cautious backing from states and territories for a policy the ruling Coalition hopes will end a decade of policy paralysis.
Energy ministers from Australia’s six states and two territories signed off on a preliminary deal to back the scheme at a Council of Australian Governments meeting held in Melbourne on Friday, according to an emailed statement from the COAG Energy Council. The government appointed Energy Security Board has been instructed to develop the detailed design of the guarantee ahead of a follow-up meeting due August.