Better power price outcomes for Queenslanders

For the first time in many years, electricity prices in Queensland are on a steady course rather than spiralling upwards following a determination announced today by the Queensland Competition Authority (QCA).

Treasurer Curtis Pitt and Minister for Energy and Water Supply Mark Bailey said the flattening of prices after so many recent increases would be a welcome relief for households and small businesses.

“Small businesses will save between $73 and $135 on annual power bills, depending on their level of energy use and the tariff they are signed up to,” Mr Pitt said.

“We know that a lot of households have been struggling to make ends meet with the massive power price hikes they had to endure under the LNP,” Mr Pitt said.

“Seeing a small reduction – rather than an increase – will provide some relief to family budgets.”

Under the QCA’s new price determination, the average Queensland household will see a reduction in their power bill of around 0.5 per cent starting from 1 July.

“Farmers and irrigators on transitional business tariffs will remain at the same price as 2014-15, after seeing rises of 10 per cent a year under the LNP’s watch.”

Mr Bailey said while the majority of households would benefit from lower power bills, some customers may still see an increase.

“The QCA’s increase to the supply charge will impact on some customers using a small amount of electricity, but this will be offset by a significant reduction in consumption charges, which are the main component of bills for most customers,” he said.

“Queenslanders were hit hard by double digit power bills under the previous LNP Government, with a 43% per cent increase in the average bill over the past three years.

“Queensland electricity prices went from being well below the national average to well above it when Tim Nicholls and Mark McArdle were calling the shots.

“We welcome the QCA decision and the savings it will deliver Queenslanders.”

The Queensland Competition Authority’s final determination for 2015-16 electricity prices is available at www.qca.org.au

Media Contacts:

Treasurer’s Office Martin Philip 0427 919 548
Minister’s Office Ellen McIntyre 3719 7316