Policy priorities have done a complete turnaround in Canberra, as newly appointed Energy Minister Angus Taylor unveiled the Coalition’s revitalised energy agenda.

After the beleaguered National Energy Guarantee and its ideological obsession with emissions targets undid the Turnbull Government last week, the new energy blueprint desperately needed to deliver a transformed, recalibrated policy.

After the unequivocal focus was declared to be getting prices down and maintaining grid reliability, it’s clear this is the case.

Heavy-handed intervention if companies price gouge was foreshadowed in yesterday’s speech by the minister for “getting prices down,” with emission reduction targets ditched and renewable energy subsidies slammed.

Senator Eric Abetz tells Luke Grant the revamped policy, which relegates virtue-signalling emissions targets out of view, makes last week’s leadership coup worth the backlash.

“It makes the events of last week, which were so untidy and for which I and the Liberal Party apologise, worthwhile,” says Abetz.

“Because Australia can now look forward to reduced energy prices.”

“What we needed was good stern policy. That’s what Angus Taylor has delivered. He’s only got one job, to reduce the price. That is what some of us were trying to signal to the leader 18 months ago.”

“So I simply say, please forgive that which occurred last week, but look forward to cheaper energy prices.”

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