Former prime minister Tony Abbott says the explanation given about how the National Energy Guarantee will bring down prices is "merchant bankers' gobbledegook".
Mr Abbott said in a statement after a coalition partyroom meeting on Tuesday there were at least four government MPs who could cross the floor on legislation and at least a dozen who have "serious concerns" about the policy proposed by Prime Minister Malcolm Turnbull - a former merchant banker.
"Unfortunately, most explanations of how the NEG (as it stands without price targets) might theoretically get prices down sound like merchant bankers' gobbledegook," he said.
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