The federal, state and territory Energy Ministers have introduced a shadow carbon price for the national electricity market. This ‘value of emissions reduction’ (VER) sets the value of carbon abatement at $66 per tonne in 2023, rising six-fold to $420 by 2050. Costs will be passed onto consumers through electricity network projects because the regulatory investment framework will now include the interim VER as a benefit in their cost benefit analyses. This change is likely to increase the assessed benefits of projects that claim to reduce emissions, projects which might otherwise have been deemed uneconomic.
Read the rest of this research here: https://www.cis.org.au/publication/the-impact-of-a-shadow-carbon-price-on-our-electricity-bills/
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