Labor opposes plan to indemnify new coal plants and warns it could cost billions

Federal opposition calls it 'an extraordinary waste of taxpayers' money' and issues warning to energy sectorThe shadow climate change minister, Mark Butler, has issued a clear warning to Australia's energy sector that Labor does not support the government indemnifying new coal plants against the future risk of a carbon price - noting the cost to taxpayers could run into billions.While the ALP federally has a policy of not repudiating contracts, Butler told Guardian Australia on Wednesday: "Investors need to understand very clearly that we do not support that. That would be an extraordinary waste of taxpayers' money." Continue reading...