Article by Jessica Page, courtesy of The West Australian.
A secret report has laid bare the potential impact of the Albanese Government’s Nature Positive laws on WA, warning electricity prices and housing costs could rocket.
The West Australian has viewed a report commissioned by the Chamber of Commerce and Industry WA, as Labor backbenchers push for the Senate to pass laws that Premier Roger Cook has labelled a “threat to WA jobs”.
The report by economic modelling firm ACIL Allen spelt out industry concerns the proposed model for a national Environmental Protection Authority would increase the “cost and complexity” of renewable energy projects.
It tested a “blanket 12-month delay to all new generation capacity”, finding WA’s wholesale electricity prices would surge 38 per cent, capacity would fall 2.6 per cent and coal-fired power generation would increase by a massive 244 per cent.
“A delay in new generation project connections in the WEM (wholesale electricity market) will result in a material delay to the decarbonisation of electricity production,” the report said.
“This will result in an increase in carbon emissions.
“ACIL Allen estimates over the period 2025 to 2035 emissions from the WEM would be 8.3 million tonnes higher.”
The report also warned the legislation would bring additional red tape that could affect residential dwellings.
For example, it estimated the cost of residential lots in Perth’s north would soar by up to 10.6 per cent.
“The reforms could reduce the available number of lots for residential dwellings by 36,223 lots or 25 per cent,” the report said.
This week it was revealed that the contentious legislation had been resuscitated and is due back in the Senate next week.
Environment Minister Tanya Plibersek has been lobbying industry to support the Bill after Prime Minister Anthony Albanese torpedoed a deal she struck with the Greens in November.
CCIWA WA said the report was commissioned to analyse the “whole of economy” impact.
“The report was designed to build an evidence base to drive a public policy outcome that is better for the environment and better for business,” CCIWA chief economist Aaron Morey said.
“The report’s findings are in line with the deep concerns regarding protracted assessment timeframes, which deliver for neither the environment nor business.”
Liberal senator Michaelia Cash demanded the report be released in full.
“We’ve always known that the Nature Positive laws are a devastating blow to WA’s mining industry but there is now credible information the effects of these laws could directly impact residential land developments and the energy market,” she said.
“It is quite clear this sneaky Government is hiding the true effects of these laws.”
On Friday, Mr Cook maintained his position vowing to “stand up for WA jobs”.
He said he was confident the Prime Minister would heed WA’s concerns. “I’ve sought and always received assurances from the Prime Minister he’ll stand up for WA,” he said.
