Energy minister delivers warning to party conservatives and resources sector ahead of Finkel review, which is expected to recommend implementing a low emissions target

The energy minister, Josh Frydenberg, has warned internal and external critics that the Turnbull government’s policy has to change, because doing nothing will drive up power prices – as Australia’s resources sector fired the first public warning shot against a new low emissions target.

With the Finkel review expected on Friday to recommend the Turnbull government consider implementing a low emissions target (LET) to deliver a concrete signal to the market to drive new investment in power generation, Frydenberg on Monday delivered a blunt public warning that the status quo was not an option.

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