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Monday, 7 November 2011
Page: 8392

Senator WONG (South AustraliaMinister for Finance and Deregulation) (18:04): I am advised that electricity cost increases are likely to be in the order of 10 per cent, and I think I have made that clear previously. I might provide the information on dairy, because I think that is of some use. A carbon price impact on dairy prices is projected to be 0.4 per cent. This reflects the low emissions intensity of dairy processing and the impact of the exclusions of agricultural emissions from the scheme.

I am also advised that ABARES released a report in June of this year which found electricity accounts for about 2.3 per cent of total dairy farm cash costs. Treasury modelling has indicated that a 10 per cent increase in electricity would represent an increase in around 0.2 per cent of total farm cash costs. This is not dissimilar to other industries outside of the jobs and competitiveness assistance stream. I also remind the senator that there is also the $150 million available under the clean technology program to which I have referred.