Media release
What future for the Household Energy Fund?
Householders want details from all parties on whether and how they would fund home energy efficiency. Labour promised
this as part of emissions trading policy early last year, and has embodied the Home Energy Fund in legislation. Now the
National Party has rejected the Fund, which means they will have to repeal the legislation.
How big a deal is the $1 billion Home Energy Fund? Less than a single year's Crown revenue from taxes and dividends from
the electricity sector.
Labour stated today the Home Energy Fund would come from windfall profits from emissions trading. Are the profits enough
to fund the
scheme? Yes - it would take less than 1/3 of the Crown's windfall take from domestic power bills alone - and even less,
if carbon is priced at today's prices of $45 per tonne.
ENDS