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Carbon tax repeal will cut electricity prices immediately


Source: abc.net.au, 7 November 2013


Environment Minister Greg Hunt says scrapping the carbon tax will bring down electricity prices "immediately", despite more warnings from business that it could take time.

The Business Council of Australia (BCA) is the latest business group to warn that companies will need time to pass through any reduced costs to consumers.

Yesterday the Energy Supply Association and the Australian Industry Group both said that while the cost of the carbon tax would be subtracted from power bills, other factors could continue to influence prices.

Mr Hunt maintains he expects power bills to be lower as soon as the tax is scrapped.

"It should happen immediately," he told ABC Radio 702 Sydney this morning.

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