Former official criticises Angus Taylor over 'extraordinary' coal protection measure
A potential Morrison government move to shield new coal-fired power projects from the future costs of their carbon emissions amounts to a taxpayer-funded subsidy and would be an "extraordinary" and "irresponsible" move, the former chief of the federal government's green bank says.
Energy Minister Angus Taylor is considering indemnifying new coal projects from their future carbon risk as part of the government's plan to underwrite new "reliable" electricity generation.
Oliver Yates, former chief executive of the Clean Energy Finance Corporation and a veteran Liberal Party member, told Fairfax Media that the government was effectively "subsidising a coal-fired power station" if it underwrites its carbon risk.
"The government is going to expose itself to a risk that the private sector wouldn't take," Mr Yates said.
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