The proposed Emissions Trading Scheme (ETS) from the Rudd Government – now supported by the Coalition – could force small businesses energy costs to rise by 20 to 30 percent, says Tim Wolfenden, CEO of Make it Cheaper.
While Turnbull’s decision to back the controversial ETS scheme has been met with harsh criticism from members within his own party, Wolfenden is more concerned about the impact to consumers and business.
“The ETS is there to encourage a reduction in energy usage and use of ‘greener’ energy generation methods,” he said. “The issue is that small business and home owners are unclear on the real benefits that the ETS will bring to them. Unfortunately the short term impact would seem to be signifiant increases in their energy bills,” he added.
It has been estimated that home owners could see total rises in household bills of $1100, with electricity and gas costs contributing around $420 of the total increases; while small business could see their own energy costs go up by $1500.
Small business hit hard by soaring energy bills