The ACT Government has stepped up the promotion of its energy efficiency scheme, producing a document promising ''lifetime'' savings of more than $2000 per household under the policy.
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In the Legislative Assembly yesterday, the government tabled its plan for an overhaul of Canberra's electricity market which will force electricity providers and retailers to subsidise or pay for energy efficiency upgrades to homes, as well as replacing old appliances.
Announcing the legislation last week, Environment Minister Simon Corbell said the scheme would save more than 70,000 Canberra households $305 on their energy bills between 2013 and 2015. Yesterday, a regulatory impact statement showed the scheme would save households taking part $2140 over the life of the upgrades and deliver $40 million to the ACT economy.
If the bill is passed, households will be able to apply for free upgrades including double-glazed windows, insulation, or replacement of inefficient heaters, airconditioners and other appliances.
The government expects power companies will pass on the costs of upgrading homes to consumers through higher electricity prices, but insists the costs will be less than the total savings for households.
The impact statement estimates the scheme will increase electricity prices by an average of $87 per household over three years.
Mr Corbell said the scheme would deliver ''immediate'' savings for home owners and renters that participated and a 6.2 per cent, or 742,000 tonne, reduction in the ACT's residential greenhouse gas emissions by 2015.
''It is a win for consumers, who can significantly reduce their energy bills, and then continue to reap the benefit of those savings long after the scheme has been completed,'' he said.
''It is a win for the creation of a sustainable low carbon economy. And it is a win for the environment through cost-effective and significant reductions in the ACT's greenhouse gas emissions.''
Mr Corbell said electricity suppliers would have to meet an energy savings target and would be penalised if they failed to do so.
Twenty-five per cent of households taking part must be low-income earners and Mr Corbell said the government's modelling showed the scheme would help Canberrans struggling to pay their power bills.
''In straightforward terms, those who are most vulnerable to escalating electricity costs… will be those most immediately assisted,'' he said.
He added the figures were estimates ''but they are robust, conservative and derived from a model that has been consistently used elsewhere in Australia for these schemes''.
Debate on the legislation was adjourned to a future sitting day.
If the legislation is passed, the changes will come into force on January 1 next year. Mr Corbell said the scheme would be extended to small businesses and a regulatory impact statement for the business sector would be tabled later this year.
