Households will pay hundreds more in energy bills under Labor’s plan to reduce greenhouse emissions 

Liberal Party study claims household energy bills could soar by HUNDREDS of dollars under Labor’s plan to reduce greenhouse gas emissions

  • Households could be force to pay hundreds more in power bills under Labor 
  • Labor committed to cutting greenhouse gas emissions by 45 per cent by 2030
  • The Coalition has planned to reduce emissions by 26 per cent by 2030

Households would be forced to fork out hundreds of dollars more on their energy bills under Labor’s commitment to reduce greenhouse gas emissions, according to recent modelling.

A comparison of the two major parties revealed Labor’s plan to cut down on emissions by 45 per cent by 2030 would cost households in NSW an additional $600 on average on their power bill.

By the time the policy is fully implemented, power bills could cost an extra $480 per household on average in Victoria.

The analysis was brought to light by Coalition-associated Menzies and Page Research Centres who claim power bills would soar between six and 30 per cent by 2030 under a Labor government, News Corp reported.

Households will be forced to fork out hundreds of dollars more on their energy bills under Labor’s commitment to reduce greenhouse gas emissions,  according to new research (stock image)

By comparison, the Coalition policy would see a 40 per cent decline in the average household power bill by the same year.

The Coalition is planning to reduce emissions by 26 per cent, almost half of Labor’s commitment, by 2030. 

An average annual power bill in Victoria in 2017-18 is about $1208 a year but is expected to drop to $796 by 2030 amid the Coalition’s proposed plans to reduce emissions.

Under the Coalition in NSW, the average annual bill would drop from about $1368 to $804.

By comparison, the annual household power bill in Victoria under Labor is forecast to jump six per cent to $1276.

The Coalition is planning to reduce emissions by 26 per cent, almost half of Labor's commitment, by 2030 (stock image)

The Coalition is planning to reduce emissions by 26 per cent, almost half of Labor’s commitment, by 2030 (stock image)

Greenhouse gas emissions 

Labor has committed to cutting down on emissions by 45 per cent by 2030.

The Coalition is planning to reduce emissions by 26 per cent by 2030. 

Power bills would soar between six and 30 per cent by 2030 under a Labor government – while the Coalition would see a 40 per cent decline, according to the findings.

According to the economic modelling, it would rise three per cent in NSW to $1404 a year by 2030. 

Small and medium businesses with annual consumption of 16,000 kWh should expect the same electricity prices under Labor, the report found. 

An Australia-wide drop of an average of $1,500 in electricity prices for small and medium businesses is anticipated under the Coalition.

Under the more conservative emissions policy employed by the government small and medium sized businesses would be $2164 better off a year in NSW and $1892 in Victoria. 

With polling day three months around the corner, the cost of household power bills is expected to be draw-card for voters who could be willing to swing.

With polling day three months around the corner, the cost of household power bills is expected to be draw-card for voters who could be willing to swing (stock image)

With polling day three months around the corner, the cost of household power bills is expected to be draw-card for voters who could be willing to swing (stock image)

Labor’s energy spokesman Mark Butler would not guarantee whether energy bills under his party would drop when asked last week.  

Nick Cater the Executive director of the Menzies Research Centre said the research proved that Labor’s commitment to renewable energy would not necessarily bring down the costs. 

‘The inconvenient truth is that there are huge costs to reducing emissions from energy production, and these are paid for by all of us, either as consumers or taxpayers,’ he said.

2017-18 vs. 2030 

THE COALITION 

VICTORIA: An average annual household power bill is about $1208 a year in 2017-18 but is expected to drop to $796. 

NSW: The average annual bill would drop from about $1368 to $804.

LABOR 

VICTORIA: The average annual household power bill is forecast to jump six per cent to $1276 by 2030.

NSW: According to the research, it would rise three per cent to $1404 by 2030. 

Read more at DailyMail.co.uk