Our Plan for Cheaper Electricity and Fuel – More Competitive Electricity Market

THE PROBLEM

Labor has been using electricity as a secret tax, while Queenslanders continue to pay record high prices.

Labor’s electricity rip-off is hurting the household budget and putting more pressure on small business – the backbone of the Queensland economy.

It was Labor that reduced competition when Anna Bligh merged the three state-owned generators (Tarong, CS Energy and Stanwell) into two, all while Annastacia Palaszczuk was sitting at the Cabinet table.

Average wholesale power prices spiked to record levels under Labor.

In the meantime, some of the most vulnerable Queenslanders – our seniors and pensioners on fixed incomes – are struggling to afford the basic necessities of life.

OUR SOLUTION

To promote more competition and put downward pressure on wholesale prices, the LNP will restructure our government-owned power generators from two to three entities.

The Government’s own modelling shows that creating three state-owned generation companies will reduce wholesale prices by more than 8 per cent.

This is not just a short-term sugar hit, as we regularly see with Labor’s electricity policies, this is a long-term structural reform that is backed by the Australian Competition and Consumer Commission.

“Having two generators control two-thirds of the capacity rather than three is clearly a retrograde step. It clearly gives them more market power than they would have without that step and this clearly means we’re paying higher prices because of that move from three players to two.” – ACCC Chairman Rod Sims 612 ABC Radio, 21 July 2017

This is a policy that is backed by both small business and consumer advocates and will provide long-term structural change for Queensland’s electricity generation.

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