Launched by consumer advocate CHOICE, the Australian Council of
Social Service and policy research organisation The Climate Institute,
this study gives households the tools to weigh up their own costs,
financial support and potential savings under the carbon price with an
independent online tool - yourcarbonprice.com.au. The
CSIRO-AECOM research underpins the figures used in the tool, as well
as a national information program available to councils, schools,
faith groups, business groups and other organisations.
The CSIRO-AECOM research shows impacts on households are likely to
be smaller than anticipated. It calculates Australia’s carbon pollution
price will add 0.6 per cent to inflation in 2012-13. This is less of an impact
on the economy than estimated by Treasury modelling, and may be even
smaller as the modelling assumes a 100 per cent pass-through of costs by
businesses to consumers.
The study also compares the effect of the
carbon price with other inflationary events such as the
introduction of the GST, Cyclone Yasi and the mining boom. It finds that
the impact on prices of the 2001 GST was more than four times bigger
(2.5 per cent) than the carbon price, while fruit prices - led by bananas - spiked
by a massive 70 per cent after the damage of Cyclone Yasi. The study reports
that without domestic and global action to slow down climate change, the
impact on basic food prices is likely be 20 times greater than the
carbon price impact by 2050 because of extreme weather events.
The online tool may be accessed by clicking the image below: To access the media release click here.
Household Case Study Summary
Electricity Prices Factsheet
Household Case Studies
Low-Income Family (with 2 kids) (PDF, <980KB)
Middle-Income Family (with 2 kids) (PDF, <980KB)
High-Income Family (with 2 kids) (PDF, <980KB)
Single Parent (with 2 kids) (PDF, <980KB)
Single Person (under 65) (PDF, <980KB)
Pensioner Couple (PDF, <980KB)
Pensioner Single (PDF, <980KB)
The online tool and above materials are based primarily on independent analysis undertaken by CSIRO and AECOM. This research was commissioned by The Climate Institute, with advice and input from CHOICE and ACOSS.CSIRO/AECOM Full Report
(PDF, 1.8MB)CSIRO/AECOM Summary Report
Support for households
The Government has estimated that nine out of 10 Australian households will receive financial assistance through the carbon price reforms. This assistance will be delivered through a mix of tax cuts and increased benefit payments. Exactly how much assistance your household will receive depends on your specific circumstances, including your income level and the number of dependent children. For a more detailed estimate of the level of assistance you will receive, visit cleanenergyfuture.gov.au.
Energy saving measures
The energy efficiency data in the tool and within the other materials is derived from analysis prepared for the Clean Energy Council by the Sustainability Advice Team and Pitt&Sherry. A technical note detailing all assumptions is available here.
For more information or to organise materials and support for your councils, schools, faith groups, business groups or other organisations, please email:email@example.com