Premier Steven Miles has committed to an Energy Price Guarantee, which will see Queensland household bills remain lower than the mainland average national electricity market price, if elected in October.
The Energy Price Guarantee is supported by a new state-wide publicly owned energy retailer, which will offer the lowest household power prices on the east coast.
The Miles Labor Government can make promises like this because Queensland owns its energy assets.
All this is at risk under the LNP, who only have a plan to sell Queensland’s assets to make way for nuclear reactors.
Today, the Premier committed that if elected in October, a Miles Labor Government will deliver an Energy Price Guarantee that household bills will remain lower than the mainland average national electricity market price.
The Miles Government will deliver the Energy Price Guarantee by maintaining public ownership of power assets and the Cheaper Energy Plan.
It follows the announcement that an elected Miles Labor Government would establish a publicly owned energy retailer, state-wide.
This would deliver access to greater competition, greater choice and lower prices for all Queensland households and businesses.
To combat potential coal price increases impacting the cost of electricity, the Miles Labor Government will use increased coal royalty revenue from those price increases to fund energy rebates.
Australian Energy Market Operator’s (AEMO) latest report shows that Queensland was the only market to see a decrease in wholesale energy prices as a result of investments in the energy system, which are expected to flow on to household power bills next year.
This comes as Canstar Blue analysis shows Queensland households had the lowest power bills in the National Electricity market.
And that was before the nation leading $1,000 energy bill rebate.
For vulnerable households, this rebate increases to $1,372 and all households will benefit from an additional $300 from the Federal Labor Government.
The Energy Price Guarantee can only be delivered because of our record $26 billion commitment to more energy generation. The LNP are opposed to this investment and cannot match this guarantee.
The LNP’s nuclear plans would only deliver higher power prices for Queensland families.
That’s the advice of experts including the CSIRO.
Recent independent modelling commissioned by Premier and Cabinet indicates that Queenslanders would be the worst impacted as we already have lower power bills.
Nuclear would drive up power bills by up to $1,259 a year for the average household in Queensland.
Quotes attributable to Premier Steven Miles:
“When I travel around Queensland people tell me that our $1000 electricity rebates have made a huge difference, so I am acting to ensure household electricity prices stay low for Queensland families.
“We can make this Energy Price Guarantee, because Queenslanders own our energy assets.
“On top of this, we’re delivering the largest investment in the nation in renewable energy at $26 billion, something we can only deliver because of our progressive royalties.
“More renewables connected to the Super Grid and greater investment will put downward pressure on prices.”
Quotes attributable to Deputy Premier Cameron Dick:
“The Miles Labor Government is delivering cost-of-living relief to Queenslanders now while investing in the infrastructure to reduce costs well into the future.
“The Miles Labor Government can make our Energy Price Guarantee because of our second publicly-owned power retailer and our commitment to transform the state’s electricity system to produce clean, cheap power for Queenslanders.
“Our commitment backed by a $26 billion investment in our Energy and Jobs Plan is also giving the private sector the confidence to invest $7 billion towards renewable energy generation in Queensland last year, according to Clean Energy Australia.”
BACKGROUND
The Miles Labor Government can also use our progressive coal royalties for energy rebates if global commodity prices increase, which would increase the price of electricity
All Queensland households have already benefited from cheaper energy with nation leading $1,000 energy bill rebates.
ENDS