ETS: Electricity prices to double within two years

Minchin: stunned

… and treble by 2024. All thanks to the ETS. Fortunate, then, that it will never make it into law:

New modelling by the Government’s energy market operator reveals the wholesale price of electricity will rise from $30 per megawatt hour in 2010 to about $100 by 2024.

In a national transmission report released before Christmas, the Australian Energy Market Operator (AEMO) predicts the price will double to $60 per megawatt hour by 2012.

The wholesale price makes up less than half of the final bill that reaches each customer, who also pays distribution costs.

The AEMO modelling is based on Treasury’s carbon price estimates under the proposed emissions trading scheme, which from next year will force big polluters to pay for their emissions. [Er, well it would if it was actually law yet – Ed]

Opposition energy spokesman Nick Minchin yesterday accused the Rudd Government of trying to hide the real costs of tackling climate change.

“I think Australians will be stunned to learn that their power bills could more than triple as a result of Mr Rudd’s climate change policies,” Senator Minchin said.

Read it here.

Comments

  1. Is that before or after the coal-fired power stations start to close down, I wonder?
    http://www.smartcompany.com.au/resources-and-energy/20091117-australia-s-power-sector-is-in-jeopardy-gottliebsen.html

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