Australian Power prices set to jump 30pc
Posted by Big Gav in australia, electrity prices
The ABC reports that power prices are set to soar further, with renewables accounting for just a small percentage of the change - Power prices set to jump 30pc.
Households will be forced to pay up to 30 per cent more for electricity by mid-2013, with the Federal Government's renewable energy scheme responsible for 11 per cent of that increase.
The Government's chief energy advisory group was asked by the Council of Australian Governments (COAG) to forecast electricity price trends over the next three years.
The Australian Energy Market Commission has warned higher infrastructure costs will cause household electricity costs to rise across the country.
Most of the price hike is due to greater energy needs and the increasing cost to maintain power grids. Higher fuel prices and uncertainty over a carbon price will also drive up wholesale electricity costs.
The report found the Federal Government's plan to have 20 per cent of electricity from renewable sources by 2020 will contribute 11 per cent to the price rise.
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