Tony Abbott Wants Australia to be ‘Affordable Energy Capital of World’

From Yahoo News

By Emma Griffiths

The Prime Minister has declared he wants to make Australia the “affordable energy capital” of the world and says the system of promoting renewable energy is pushing up power prices.

Tony Abbott made the statement after one of Australia’s largest power generators blamed increasing gas prices for its decision to close a major gas-fired station near Brisbane.

Stanwell Corporation will instead fire up a coal facility and sell the gas it would have used to generate electricity.

It has also reportedly called for the country’s renewable energy target to be cut back, claiming it is distorting the energy market.

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