One News June 06, 2010
The controversial Emissions Trading Scheme (ETS) looks set to hit consumers in the pocket – again. Climate Change Minister Nick Smith on TV ONE’s Q+A programme did not rule out more power and petrol price hikes to cover costs. “We are expecting power prices to increase by 5% and 3 cents a litre on petrol as well as some other flow on costs,” he said. Tax increases were supposed to cover the cost of the Emissions Trading Scheme until 2012, but the minister now says households may have to pay more.