Senate debates
Monday, 7 November 2011
Bills
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge — General) Bill 2011, Clean Energy (Unit Issue Charge — Auctions) Bill 2011, Clean Energy (Unit Issue Charge — Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges — Customs) Bill 2011, Clean Energy (Charges — Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011; In Committee
6:04 pm
Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source
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.
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