Ngai Tahu claims $100 million for ETS
NBR reports that Ngai Tahu is seeking compensation for a loss in value of forests it received as part of its historic Treaty claim.
This is due to the Emissions Trading Scheme legislation about to be passed into law.
How much value?
The Hive heard Mark Solomon say on Morning Report:
PRESENTER: Right, so the ETS has essentially robbed you of value from that settlement.
SOLOMON: Over $100 million.
PRESENTER: From that full and final settlement.
SOLOMON: Yes.
The Hive also explains how much households will get stung by the ETS:
1) The decision to block hot air AAUs has roughly doubled the price of carbon in the scheme from $20-$25 to $40-$50 (Radio NZ Morning Report http://www.radionz.co.nz/audio/national/mnr/2008/09/02/emmisions_trading_scheme_bill_debate ) .
2) The Government’s own numbers (from the explanatory note to the Bill) show the impacts on households (when fully implemented – now 2011) to be:
$100-$200 p.a. at C-Price of $15 / tCO2e
$170-$350 p.a. at C-Price of $25 / tCO2e
$330-$660 p.a. at C-Price of $50 / tCO2e3) So at the Minister’s spokesperson’s C-price basis of $25 / tCO2e, the “good news of an electricity $120 rebate in 2010” is little comfort for the real cost in the years that follow!
Peter Dunne is also very unimpressed with the “compensation” of $2.50 a week.
It is also worth noting that the Government has just introduced 77 pages of amendments to the ETS legislation!!