Vic: Water prices likely to double, says resource economist
The price of water in Victoria is predicted to at least double under a new state governmentpricing policy.
One of Australia's leading resource economists, CSIRO professor MIKE YOUNG, says factoringin water scarcity and the needs of the environment will mean significant price rises.
He says that's just an average, and in some areas it could triple or even quadruple.
Environment Minister JOHN THWAITES has announced water prices will rise in Victoriato reflect the true cost of the resource, but he's declined to say by how much.
Professor YOUNG, a member of the influential Wentworth Group of scientists, says climatechange and the increasing scarcity of water will have to be taken into account.
Victoria's Essential Services Commission will begin setting water prices based on thetrue cost of the resource from July 1, 2005.
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KEYWORD: WATER VIC (MELBOURNE)
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