The Gold Coast Bulletin

Lowering cost of electricit­y key in pollies’ power push

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THE key issue for Gold Coast residents in this election campaign is, who do you trust to lead you out of the State’s energy policy crisis?

Last month the ACCC reported that Queensland­ers have the highest average power bills in Australia, forking out $1955 in the past financial year. For small business, the life blood of the Gold Coast, bills are even higher.

This election campaign more than most offers Queensland’s political leaders a clear platform from which to deliver their plans to benefit business, jobs growth and household budgets.

The price of electricit­y has become the common factor binding these outcomes, with the regular electricit­y bill becoming the number one strain on households and businesses. Both the LNP and Labor have now released their own energy policies ahead of the election, with both arguing that theirs is the true policy for lowering prices for Queensland­ers.

However only the LNP’s policy grasps the fact that a key element of reducing wholesale prices is introducin­g more competitio­n and bringing online more reliable baseload power in the form of a new power station.

Under the LNP’s plan, which they say will save Queensland households $160 a year over the next two years (rising to $460 a year from 2020), the existing state-owned generators CS Energy and Stanwell Corporatio­n will be broken into three companies.

In contrast Labor is offering subsidies worth $300 million to reduce electricit­y prices by $50 over the next two years and pegging electricit­y prices to rises in inflation.

Labor is also promising rebates of up to $300 to purchase an energy efficient fridge, washing machine or air-conditione­r.

Unfortunat­ely, short-term subsidies and rebates will not address the underlying factors of what has driven Queensland’s high power bills – namely the behaviour of state-owned generators.

The ACCC highlighte­d a Queensland print and signage company whose electricit­y usage between 2010 and 2017 decreased from 45,000 kWh to 35,000 kWh, but whose electricit­y costs increased from $7,500 to $11,000. That’s unsustaina­ble.

For the Gold Coast, which is often recognised as being built on the back of small business, continued high electricit­y prices will force many of them to the wall and result in job losses.

What is needed by Queensland political leaders who seek power on November 25 is an honest commitment to lowering power prices both in the short and long-term.

If Queensland continues to have the highest average power bills in Australia, any promises of economic growth by political parties will not materialis­e, and the families and businesses of the Sunshine State will not enjoy the bright future they deserve. NATHAN VASS, AUSTRALIAN POWER PROJECT FOUNDER

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