William Paul Bell Queensland University Researcher

Why is mainstream economics not a social science but ideological mathematics?

Posts Tagged ‘Natural Resource and Environmental Economics

The impact of a carbon price on electricity prices in Australia

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The University of Queensland News discusses the study ‘The Impact of Carbon Pricing on Wholesale Electricity Prices, CarbonPass-Through Rates and Retail Electricity Tariffs in Australia‘, stating that the study is the most accurate estimate to date for the impact of the carbon price on retail electricity prices and reveals the burden will vary considerably, depending on a household’s location.

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.

The study estimates an average 8.9 per cent increase for retail electricity prices in the five eastern states, due to the carbon price — below the 10 per cent rise estimated by the federal Treasury. This runs counter to claims that Treasury has underestimated the impact of the carbon price on the economy. Read the rest of this entry »

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