This is profoundly disappointing.
A reduction of 26% by 2030 is nowhere near enough. Electricity production is low hanging fruit for decarbonisation. The goal should be around 75% reduction by 2030 which would force innovation in the energy sector, which would benefit Australia in the long run.
Increases in electricity prices can easily be offset with government subsidies.
The government says the new emissions reduction target for electricity will likely be 26% on 2005 levels by 2030.