Why Abbott's promised bill savings are wrong

The Government is promising average households will save $200 per year on their power bill from repeal of the carbon tax. The reality is most households will see far lower savings.

The government has now toned down its claims about what were supposed to be "unimaginable" price impacts from the carbon tax. It now chooses to use the estimates of price impacts which the prior Labor Government used, based on Australian Treasury Department economic modelling. However the  reality is that even the government’s more modest claim of a $200 average annual saving on households’ electricity bills from repealing the carbon tax is likely to be a major overestimate. 

Since 2008, when Treasury originally undertook its economic modelling of the carbon price, households in Australia have become noticeably more energy efficient and frugal in their use of electricity.

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