A Tim Nicholls-led LNP Government will tackle the cost of living by delivering cheaper electricity.
LNP Leader Tim Nicholls said he would undertake major economic reforms to end Labor’s secret tax on electricity.
“We are taking action on every component of the household electricity bill – something that Annastacia Palaszczuk and Labor have failed to do,” Mr Nicholls said.
“The LNP’s energy plan will save a typical Queensland family an average of $160 each year for the next two years.
“This is not a one-off sugar hit like Annastacia Palaszczuk’s paltry 96 cents per week offering.
“After 2020 the savings will increase by an average $300 per year by stopping the subsidies for renewable energy.
“This will mean a typical Queensland family will be $460 a year on average better off under the LNP than Labor.
“These reforms will not only deliver cheaper electricity for households but business, farmers and industry as well.”
Mr Nicholls said the LNP would provide cheaper electricity for families, businesses and industry by writing down the regulated asset base of Energy Queensland by $2 billion.
“This is about stripping out Labor’s gold-plating to lower network costs to deliver cost of living relief for Queensland families,” he said.
“This measure will save a four-person household an average of $110 a year over the initial years and will continue to deliver savings until 2032.”
Mr Nicholls said another key aspect of the LNP’s comprehensive electricity reforms would include the restructure of government-owned generators back into three entities.
“Currently, Queensland has the least competition of any of the major states,” he said.
“Taking this action will increase competition in the energy generation market, which will drive down wholesale electricity costs by 8.3 per cent.*
“Labor merged the generators from three to two in 2011 and since then Queensland’s wholesale electricity price has been higher than New South Wales and Victoria.
“ACCC Chairman Rod Sims has slammed the lack of competition in Queensland’s wholesale electricity market.
“It is another example of the cost of a do-nothing Labor Government that has unashamedly used Queenslanders like cash cows.
“Unlike Labor, which uses electricity as a tax, we’re prepared to reduce returns at the government-owned energy businesses – because we can’t afford not to act on record high power prices.
“Our plan will cost $645 million over the next three years, but an economy can’t grow if it is weighed down by high electricity costs.
“The LNP has listened to Queensland families who are struggling with increasing cost of living pressures.
“Our energy plan, along with other policies such as our family car rego freeze, will make a real difference to your household budget.
“Make no mistake, I am determined to ease cost of living pressures for all Queenslanders, and I will never use them as cash cows – unlike Annastacia Palaszczuk.”
*As modelled by ACIL Allen for the Queensland Productivity Commission.
