Target emissions, not coal plants

If closing brown coal power plants is part of the lowest cost mix of emissions reduction opportunities, then they will close without additional payment from the government. No extra deals are needed.

Last week the Australian government announced that the "payment for closure” element of the Clean Energy Future package would not proceed. The decision has saved taxpayers a multi-billion dollar outlay without compromising the environmental or financial objectives of the overall policy. One might wonder why the decision created the level of criticism that we have seen.

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