Abbott takes aim at Turnbull over energy

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.