Sticking points on the new legislation have intensified as this week’s deadline approaches.

After five weeks of negotiations with her coalition counterpart Ian Macfarlane, Climate Change Minister Penny Wong said the final deal will not be unveiled until tomorrow.

As reported by AAP, Cabinet and the Labor caucus are expected to sign off the offer on Tuesday, before it is sent to the shadow ministry and a meeting of the coalition joint parties.

The federal government said any offer put to the opposition on an emissions trading scheme is only on the table this week. According to the prescribed timeline, this leaves just two sittings days for the Senate to pass legislation setting up the carbon pollution reduction scheme, before parliament rises for the Christmas break.

Meanwhile, the generators are now lobbying to convince parliament to more than double the $3.5 billion the compensation scheme proposed by the government.

Commentary now centres around whether the demands of the power utilities for extra compensation from the proposed emissions trading scheme is about saving jobs and keeping the lights on, or just recouping as much equity as possible.

The power generators are calling for billions in compensation, accompanied by legal threats and promises of closed utilities, if the legislation is passed in its current form.

According to The Australian, TRUenergy managing director Richard McIndoe wrote to all federal politicians yesterday, warning of “dire consequences of the current Carbon Pollution Reduction Scheme”.