UQ study confirms carbon tax will hit Qld the hardest

A new study from the University of Queensland’s Global Change Institute confirms previous modelling from the federal Treasury that Queensland will be hardest hit by the carbon tax and will experience the largest increase in electricity prices (Study sheds light on household impact of carbon price):

Tasmanians, with a relatively low carbon footprint, are set to gain significantly from the carbon price once tax and pension changes are factored in, while Queenslanders — heavily dependent on coal to generate electricity — will wear the biggest increase in power prices, according to economic models run on “supercomputers” at The University of Queensland.

Contrary to claims by many commentators that Federal Treasury has underestimated the impact of the carbon price on household budgets, the study’s estimate of an average 8.9 per cent increase for retail electricity prices in the five eastern states, due to the carbon price, is below the 10 per cent rise predicted by Treasury.

The Global Change Institute estimates that, at the starting carbon price of $23/tonne, electricity prices will increase 10.4% in Queensland, compared with the national average of 8.9%.

Brisbane Times coverage of the UQ study is here:

Carbon price to hit us hardest: study

Advertisements
This entry was posted in Climate change. Bookmark the permalink.

One Response to UQ study confirms carbon tax will hit Qld the hardest

  1. Pingback: Adverse impacts of carbon tax becoming apparent | Queensland Economy Watch

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s