Shane Rattenbury, the Greens minister that is in a coalition with the ACT Government, says that the ACT "has been very clear that we cannot sign up to the deal in its current form. The 26-28 per cent emissions reduction target is clearly not ambitious enough, and will make the task (of decarbonisation of the economy) more costly, more difficult and certainly more politically difficult than cutting from electricity sector".
An August 10 deadline looms over Frydenburg's head and it's looking like unanimous COAG support won't be achieved to get the NEG through as it currently stands.
In the meantime, BlueScope announced Australia's largest solar power purchase agreement. This demonstrates that industry does support and need renewables.
Policy uncertainty is dragging down IFN's share price but I can't see this remaning the case for much longer.
