Electricity prices will rise if carbon tax is scrapped
http://www.abc.net.au/radionational/programs/breakfast/axing-carbon-price-will-hit-power-prices/4882394 AUDIO: Scrapping the carbon tax will lead to electricity price rises: report 13 August 2013 A new report out today says that the Coalition’s promise to ending carbon pricing in Australia would lead to higher wholesale energy prices. The report’s author told RN Breakfast that the policy would be a blow to renewable energy and household power bills, asJames Bourne reports.
An independent report released today has found that ditching the carbon price in Australia will hit investment in the renewable energy sector—and almost certainly lead to an increase in electricity prices.
Bret Harper, the Director of Research at advisory firm RepuTex which was commissioned by the World Wildlife Fund to write the report, says that without proper investment in renewable energy—made possible by a carbon price—wholesale electricity prices could rise by between five to ten percent by 2020.
And while the findings of today’s Renewable Energy and the Carbon Price report appear to be counter intuitive, Mr Harper says the potential price hikes are already common knowledge among government and business.
‘Renewable energy, when it’s put onto the system, tends to cut household electricity bills, not push them up,’ he told RN Breakfast.
‘It represents a very low-cost form of energy that displaces other fossil fuel generators which have very high fuel costs.’………..
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