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    Coat of ArmsMedia Release
    Premier and Minister for the Arts
    The Honourable Annastacia Palaszczuk

    LNP could have added $600 to Qld power bills

    Premier and Minister for the Arts
    The Honourable Annastacia Palaszczuk

    Tuesday, July 18, 2017

    LNP could have added $600 to Qld power bills

    LNP policies could have added $600 to the average Queensland power bill if they continued in office with their policies after the 2015 State election, Premier Annastacia Palaszczuk said.

    The Premier made the comment during her opening statement to a parliamentary estimates hearing today.

    “Under the LNP electricity prices rose by 43% or $436 for the average household,” the Premier said.

    "If we had seen another 43% increase on the 2014-15 household bill - prices would be more than $600 higher this financial year.”

    By comparison, the Palaszczuk Government’s commitment to keep power assets in public hands meant the Government had a lot more options when it came to putting downward pressure on electricity prices.

    “Despite the mess of the National Energy Market, we have kept downward pressure on electricity prices,” the Premier said.

    “Electricity price increases have been held at an average of 1.9% per annum under my Government, with a $770 million reinvestment of generator dividends this year keeping average increases this year to 3.3%.”

    “We’ve also been able to bring the Swanbank E gas-fired power station near Ipswich back on line in preparation to generate more supply for next summer, after it was mothballed by Tim Nicholls.”

    The Palaszczuk Government’s Powering Queensland Plan, which includes a direction to Stanwell Corporation to modify its bidding behaviour, has seen wholesale electricity prices fall more than 18% since the plan was unveiled last month.

    “The great irony of calls by the LNP at a state and federal level for enquiries into bidding behaviour is that the bidding practices in which we have intervened were in effect when Tim Nicholls was Treasurer and a shareholding minister,” said the Premier.

    “The Member for Clayfield could have taken the action we have to put downward pressure on power prices, but instead was focused on making the generators look as profitable as possible as he prepared them for sale. Had those sales occurred, there would be no dividends to reinvest today, and no way for the government to intervene with what by then may have been foreign-owned generators.

    “Day after day a simple assessment of the National Energy Market shows Queensland doing all the heavy lifting, using our mix of coal, gas and renewables to deliver low wholesale prices while being able to sell excess energy to southern states that lack of generation capacity.

    “The simplest way to increase downward pressure on power prices is for the Federal Government to listen to Alan Finkel and take immediate action to fix the national energy market.”

    Media contact: Kirby Anderson (Premier's office) 0417 263 791