"As such, Labor calls on the government to work with us in a bipartisan approach to put in place the right energy policy for our nation's clean energy future." Approaches to climate change are being scrutinised. Credit:Jonathan Carroll The Finkel review will inform how the government meets its emissions reduction targets under the Paris climate agreement - cuts of 26 to 28 per cent based on 2005 levels by 2030. Recently, Labor and a range of industry groups have pushed for an emissions intensity scheme (EIS) but this policy has been repeatedly ruled out by the Turnbull government. Labor's energy and environment spokesman Mark Butler said he hoped the letter from Mr Shorten would be an olive branch, adding that the opposition brings "firm views and principles" to the debate.

"But equally we're going to be constructive about this. We're not going to simply stand on our haunches because the government has decided, for one reason or another, not to adopt an emissions intensity scheme, which had the support of pretty much every business group," Mr Butler told ABC radio. Bill Shorten and Malcolm Turnbull. Credit:Alex Ellinghausen Labor has expressed openness to a "well-designed low emissions target", but has not said what that would look like. In his letter, Mr Shorten said it was "regrettable that for too long this nation's energy and climate policy has been hostage to a small handful of climate sceptics in the Liberal Party - while power prices have gone up, pollution has gone up and investment has stalled". Energy and Environment Minister Josh Frydenberg has been hitting the phones to calm backbench concerns about the Finkel review. In the calls to at least half a dozen conservative MPs, Mr Frydenberg has stressed the need for party unity and a market-based mechanism, and promised that low household energy bills remain a priority.

Former prime minister Tony Abbott, who deposed Mr Turnbull as Liberal leader over energy policy in 2009 and abolished the Gillard government's carbon tax, has signalled hostility to the LET. Mr Abbott said it should deliver cheaper power and not "clobber" the Australian economy. "My anxiety, based on the reports we have seen, is that the scenario which the Finkel report is recommending gives us not 50 per cent, but 70 per cent renewable energy by 2030 and coal, which is by far the cheapest source of base-load power, and in most years is our biggest single export, coal goes from currently 65 per cent to 25 per cent of total energy generation," he told Sydney radio station 2GB. "Anything that makes it impossible for us to bank new, efficient coal-fired power stations I think is a big mistake. Later on Thursday, Mr Shorten said the prime minister had been a "sell-out" on climate change but that he now had a chance to redeem himself.

"You've got a chance to redeem yourself tomorrow and in coming days - stand up to Tony Abbott. We are prepared to work with Mr Turnbull to put a price signal on emissions, not to keep pretending we can keep investing in coal-fired power stations. We are prepared to work within the long-term national interest. You've got to stand up to Tony Abbott." The Greens have expressed concern that the Finkel recommendations may place energy storage requirements on large-scale renewable projects and allow coal-fired power stations to operate for decades. "The recent Senate inquiry heard that we need to close the equivalent of one Hazelwood a year to meet the '2 degrees' target and that a staged plan to manage retirement was essential to drive new investment while maintaining supply," the party's climate change and energy spokesman Adam Bandt said. Loading