Fed plans risk investment dollars

AGL Energy, Australia’s largest electricity generator, and the ­nation’s biggest users have hit out at Scott Morrison’s revised “big stick” powers including forced ­divestment, warning that the legislation will push up prices, delay investment and weaken ­security of the grid.

The Australian is reporting that amid unprecedented scrutiny of the nation’s electricity system after more than 200,000 customers lost power recently, the industry is now locked in a new battlefront over rules it regards as short-term company bashing that will fail to deliver bill cuts for ­consumers.

Even if the laws are never used, AGL argues their very existence will reduce investment in large-scale dispatchable generation, which the government is actively lobbying to support as part of its campaign to improve the system’s reliability.

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