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Double Electricity Prices by 2012?

published, Feb 21, 2011 7:18am
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How much more could we be paying for our electricity? Here are some sobering estimates for 2012-2013 projections.

Sydney Morning Herald article points to an Australian Industry Group (Ai Group) study released today, suggesting that the annual bill for a typical Sydney household will climb to $2012 by 2012-13 if the carbon price is set at $26 per tonne.

That's a little less than double current costs. By 2015, those costs are expected to have exceeded double. Gulp!

Given we have little direct control over where prices will head, this puts the ability to control what we are using squarely in the picture as one of the key things we can do to reduce the impact of rising costs.

Here's the original AIG press release, and a link to the report itself (Disclaimer: I'm yet to finish reading it)

A few other news services ran similar articles: SkyNews and The Age among them.

 

Paul

 

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How much do you currently pay for a kilowatt-hour?

I can't remember off the top of my head, and it varies a little from place to place, but let's assume that it's roughly 20 cents per kWh at the domestic consumer.

Dirty coal-fired electricity gives you approximately 1 kg of CO2 per kWh. Therefore, if the price point of CO2 is set at 26 dollars per tonne, then this would add 2.6 cents per kWh to the cost of coal-fired electricity, or 13 percent.

I hope we don't see a 100% increase in electricity cost which they tell consumers is actually because of carbon pricing, because that's just taking consumers for a ride.

Hey Luke,

I recall in 2006 paying 11.5 cents in peak, it's now 24.5 odd in 2011.  

Are prices going up? They sure are.  I estimate over 60c per kWh in the next 3 to four years.

With carbon from coal, Hazelwood pumps near 1.7kg per kWh and the best we can do with brown coal here in Victoria is around 1.35kg.  Black coal can get down to around 0.7kg, but that is still a lot of carbon...

Sam.

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