NSW electricity bills to soar because of Rudd’s ETS

What effect will a 64% rise in electricity costs have on individuals and businesses?

Electricity bills in NSW will soar by up to 64 per cent over the next three years, with the blame laid squarely on the federal government’s proposed emissions trading scheme (ETS).

The state’s Independent Pricing and Regulatory Tribunal (IPART) confirmed the increases in Sydney today.

They are even higher than those first proposed by the tribunal in December.

They will send average electricity bills rocketing by between $577 and $918 a year by 2013.

They come on top of already significant increases last July.

The federal government’s ETS, twice rejected by the Senate, is behind a big chunk of the latest increases, IPART says.

Rising network costs have also contributed.

IPART confirmed Energy Australia bills will rise 60 per cent, adding $754 to a typical household customer’s bill by 2013.

Integral Energy and Country Energy bills will rise 46 per cent and 64 per cent respectively in the same period, adding $577 and $918 to typical customers’ bills.

But all the increases will be lower if the ETS is scrapped, IPART says.

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