CEFC changes today: government wants to take an organisation that is making a profit for the public by investing inrenewables and energy efficiency, and remodel it so it makes loss by funding fossil fuels. Cool and normal! https://parlinfo.aph.gov.au/parlInfo/download/legislation/bills/r6581_first-reps/toc_pdf/20104b01.pdf;fileType=application%2Fpdf
The term 'low-emission energy system' is not defined anywhere in the bill, nor is 'supports' in this context, but whatever, the CEFC can get a go at having a go on that one.
The change in investment function (seems to me) applies not just to the $1bn in new funding, but to all CEFC money, and allows govt to steer it through regs and the investment mandate.
The changes are supposedly about getting CEFC to implement UNGI (Underwriting New Generation Investment program). That 'program' is a shamozzle with no program guidelines or clear process or legal basis - until now?

here's one we prepared earlier. https://www.tai.org.au/content/problems-ungi
Meanwhile, this is what the head of the CEFC told the senate earlier this year: UNGI has nothing to do with them, and they were looking at Grid Reliability investments even before the Grid Reliability Fund.


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