Plan developed by senator David Leyonhjelm would halt new investment in other types of renewables and push up consumer prices, say experts
A “compromise” renewable energy policy being promoted by crossbench senators would result in windfall gains worth hundreds of millions of dollars a year for existing hydro-electric companies while stifling any new investment in renewables such as wind farms, according to analysts.
The plan has been developed by the Liberal Democrat senator, David Leyonhjelm, and has been included in a letter to Tony Abbott that is being circulated to crossbench senators for signature. It is understood to have the support of senators Bob Day, John Madigan and Jacqui Lambie.