Consumers, businesses could bear cost of cleaner energy, say experts

The impending carbon tax hike could bring about a higher cost of living for households over the next few years, if businesses decide to pass on their increased operating costs to consumers as they make their green transition, say experts here. Some experts said the estimated $4 a month increase in household utility bills will likely have "a very small impact" on most households. 

Prof Euston Quah, who is the Albert Winsemius Chair Professor of Economics and director of the Economic Growth Centre at NTU, said: "An increase in utility bills is only one item in households' expenditure. There will be more. Eating out may be more costly as restaurants may increase prices, with higher utility bills.

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