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Australia: Electricity Prices to Rise by Up to 64% As a Result Of Global Warming Schemes

Adam Bennett & Miles Godfrey
ninemsn.com.au [1]
Friday, March 19th, 2010

A NSW government rebate will be expanded to more than one million electricity consumers, to allay fears some families will be left in the dark by the state’s largest-ever electricity price increases.

Electricity bills in NSW will soar by up to a total of 64 per cent over the next three years, with the federal government’s proposed carbon pollution reduction scheme (CPRS) and rising network infrastructure costs largely to blame.

The outcome has sparked fears other states and territories could be similarly affected if the CPRS goes ahead in 20011/12 as planned.

The NSW hikes, which are even higher than those first proposed by the Independent Pricing and Regulatory Tribunal (IPART) in December, will see average electricity bills rocketing by between $577 and $918 a year by 2013.

Full article here [1]