NSW electricity prices could rise 62% by 2013

Shocking price rises

And much of that increase would be due to the ETS (if it were implemented). Even the Energy Minister is shocked. Let’s hope it stays dead, then:

The Independent Pricing and Regulatory Tribunal (IPART) said in a draft determination released in Sydney today the unprecedented fee increases would be needed to cope with higher network costs and a federal scheme to reduce carbon emissions.

IPART CEO Jim Cox said he had never seen price rises like the ones he now proposed.

“I think this is the biggest increase we have seen,” he said. “I don’t think this (price increases) is something that we particularly like.”

Under the proposal, consumers could be paying between $554 and $893 a year more for electricity by July 2013.

“The important point to note here is almost 90 per cent of the increases are due (to an) increase in network charges to pay for higher reliability standards, and also … the Carbon Pollution Reduction Scheme (CPRS), if indeed it is implemented,” he said.

If the CPRS is not introduced, consumers could still expect their annual power bills to jump by between $242 and $594 by 2013, IPART said.

But $594 is a damn sight less than $893, and the difference ($300) is thanks to the CPRS.

Read it here.