The plans were widely condemned by the energy and business sectors which urged the government not to revive them.
Australian Industry Group chief executive Innes Willox said instead the focus should be on developing a replacement for the NEG.
“If we continue with a succession of rapidly reversed policies or no policy at all, at best we will see a costly patchwork of state and localised interventions, and at worst we will see our current energy disadvantage cemented and a receding ability to meet our emissions targets,” Mr Willox said.
Electricity retailer Powershop chief executive Ed McManus said the industry was worried the policy would deter investment.
“The industry, lobby groups and regulators gave consistent feedback that, as well-intentioned as it was, the plan would dissuade investment in the sector,” Mr McManus said
Origin Energy chief executive Frank Calabria said his company needed stability to bring more generation online.
We look forward to working with the government to achieve policy settings which allow us to invest with confidence
Origin chief executive Frank Calabria
“We look forward to working with the government to achieve policy settings which allow us to invest with confidence,” Mr Calabria said.
EnergyAustralia chief executive Cath Tanna said the industry and the new government now had an“opportunity to reset our relationships and recommit to working toward a clear, stable and long-term energy policy”.
AGL declined to comment.
The soon-to-retire head of gas pipeline monopoly APA, Mick McCormack said the Morrison government could not ignore the dual issues of energy and climate change.
“The new government has to recognise a couple of independents are there solely by campaigning on climate change,” he said.
An electricity retailer, who preferred to remain unnamed, said after the Coalition lost members agitating against climate change policy the path forward should regain some sensibility.
Covering energy and policy at Fairfax Media.