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Further confirmation that scrapping carbon tax will cut power bills

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The Hon. Greg Hunt MP Minister for the Environment


13 June 2014

Further confirmation that scrapping carbon tax will cut power bills

Today the Independent Competition and Regulatory Commission (ICRC) confirmed that power bills in the ACT will fall by 7.3 per cent when the carbon tax is repealed.

The ICRC has also given the assurance to customers that “the lower prices will apply as soon as it is removed”.

The price declaration by the ACT regulator follows similar announcements by the Queensland and NSW regulators confirming that once the carbon tax is scrapped, the savings will be passed on through lower gas and electricity bills.

The Government is committed to scrapping the carbon tax from 1 July 2014.

It is Labor which is standing in the way of delivering immediate relief to families having voted to keep the carbon tax despite the clear mandate given to the Government by the Australian people at the last election.

We remain determined to get the legislation passed, and ensure the savings are passed through.

The Government is providing extra resources to the ACCC to ensure that prices fall accordingly.

Power bills are forecast to be around 9 per cent lower on average and gas prices around 7 per cent lower than they otherwise would be.

Households are forecast to be around $550 a year better off, on average without the carbon tax.

Taking the burden off Australian families and businesses is one of the key reasons the carbon tax is being repealed. This is of paramount importance to the Government, but it’s clearly not important to Bill Shorten and Labor.

Media contact: John O’Doherty 0402 047 852