$270 hit on Victorian gas bills

HOUSEHOLD gas bills are expected to soar by 30 per cent within two years, slugging families an extra $270 a year. 
 
The shock figures are based on new State Government modelling, and are included in a ­report on the future of the gas market.

The report by the Gas Taskforce, chaired by Peter Reith, says prices should level out by the end of the decade but residential bills would still be about 20 per cent - or $180 - above today's average.

It says the Government should ­remove a ban on controversial coal seam gas exploration and extraction, to boost supplies.

It warns without new ­energy sources, existing "conventional" gas supplies would last between 10 and 27 years, and prices would skyrocket.

Premier Denis Napthine said the Government would consult on CSG, and has ­ordered a scientific report on ­potential effects on underground water.

Reports are expected to be handed to the Government in 2015, after the next election.

Apart from allowing CSG extraction, known as fracking, the report recommends a new gas commissioner, and more compensation for ­aff­ect­ed land owners.

The Gas Taskforce report warns that by 2020, residential gas bills will be 20 per cent higher than today, and that Government modelling shows bills will be "peaking in 2015 at 30 per cent higher than current rates".

Opponents of fracking say it is bad for the environment, and that because of the long lead-time for onshore gas projects, short-term price rises would happen ­regardless.

St Vincent de Paul Society policy manager Gavin Dufty said the Government must ­address rising prices.

Some of the Gas Market Taskforce recommendations: 

* Remove holds on new exploration licences for coal seam gas
* Strengthen laws to underpin best practice onshore gas development
* Appoint a gas commissioner to "engage landholders and communities"
* Develop a new water science and monitoring system
* Remove holds on hydraulic fracturing ("fracking")
* Provide a "royalty holiday" to industry short-term
* Double compensation for people who lose amenities to $20,000
* The productivity commission do a review on gas market reform options

heraldsun.com.au 21 Nov 2013

Another win to the CEO's of the corporatocracy.

These companies under Australian law are NOT utilities, but rather corporations (businesses).

There is NO regulatory body, and it is leterally open slather for the corporate elite.

Another 'fraud' supported by the corporatised government.