Who knew it would cost a lot to change the climate?
It’s crisis time in Australia. Electricity bills have doubled, and the fallout is just starting to feed through to consumers. Not only does electricity cost more, but so will nearly everything else. Large businesses, economists, and miners are warning that Australians will be paying so much more it will push our inflation figures up.
Major packaging and brick makers, supermarkets, soft-drink bottlers and poultry producers said yesterday the bill shock would chip away further at profit margins and could push up consumer prices…
Economists, including National Australia Bank chief economist Alan Oster, warned the power bill shock was expected to show up in national inflation figures as early as next month.
He predicted headline inflation would increase 0.6 per cent for the July-to-September quarter, purely from energy price rises.
Paul McArdle from WattClarity makes the point that for most of the last 16 years our electricity prices didn’t even rise with inflation. In this graph, since the start of the NEM (National Electricity Market) in 1998 the spot price of electricity was about $30 per MWh, barring major drought, carbon tax and the […]
via JoNova
September 6, 2017 at 11:49PM
Iowa Climate Science Education 