Scott Morrison wants coal-fired power plants to run to the end of their lives despite accelerated closures because of increasing pressure from renewables.
The prime minister has been questioned about AGL Energy’s rejection of an $8 billion bid on the grounds it undervalued the company. Mike Cannon-Brookes and Canadian asset manager Brookfield spearheaded the unsolicited bid of $7.50 a share.
“We need to ensure that our coal-fired generation of electricity runs to its life. Because if it doesn’t, electricity prices go up,” Morrison said from Launceston.
“I wouldn’t preempt any decisions out of that because we aren’t yet at a point where the bid has been accepted by the shareholders.”