Nothing Will Stop Power Prices Soaring in NSW  

Posted by Big Gav in ,

The SMH has an article on soaring power prices in NSW - which are rising even without a carbon tax or large scale investment in renewables, thanks to rising coal and gas prices and the large expense associated with upgrading the transmission network to cope with increasing demand - Nothing Will Stop Power Prices Soaring

ELECTRICITY prices are set to almost double, regardless of the election campaign and the sale of power assets.

An Australian Industry Group study released today finds the annual bill for a typical Sydney household will climb from $1257 to $2012 between 2009-10 and 2012-13 if the carbon price is set at $26 per tonne. Even with no carbon price, the bill is set to climb to $1705.

''A range of factors points relentlessly upward, from massive network investment to movements in international markets ...'' the group's chief executive, Heather Ridout, says in an introduction to the report. ''The NSW privatisation debate is unlikely to change this much.''

The study finds coal-fired generation will become more expensive whether or not Australia gets a carbon price as international prices for Australian coal climb. Paradoxically, weak international climate change policies could push Australian coal prices still higher.

Gas prices are also set to climb, with four large LNG export projects in Queensland set to drive eastern states prices towards world parity.

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