Saturday, May 31, 2008

Rising electricity, gas & fuel prices - plus Carbon Tax?

The Sunday Business Post today reports that the ESB will be seeking an electricity price increase of at least 15% this autumn. Bord Gais already has a 19% increase proposal with the Energy Regulator.

High Petrol/Diesel prices, likely to continue to rise at the pumps, are also reflected in the price of home heating oil.

What political or public appetite exists for a set of new carbon taxes in this year’s budget?

With the media reporting gloom & doom, and all commentators in agreeemnt that house prices continue to fall, the feel-good factor is rapidly disappearing from the national psyche.

It’s hard to see the Govt making any meaningful move on carbon taxes, particularly as no-one will believe that they are intended to be revenue-neutral, given the large and growing exchequer deficit as other tax revenues fall short of projections.

On the other hand, unless something meaningful is done this year, there’s no hope of achieving the 15% emissions reduction target by 2012, as set out in the Programme for Govt..

Could this be the [very heavy] straw that breaks the Green camel’s back?

1 comment:

Anonymous said...

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