State powers ahead

THE Palaszczuk Government’s success kickstarting the renewable energy revolution is something to be celebrated, particularly in the North, where so many new projects are now coming online.

Unfortunately, there are some who seek to manipulate this achievement for political gain and spread outright lies.

This is why I am compelled to correct the record in response to the letter “Labor’s absurd state,” ( TB, 11/ 10).

The letter was little more than a mishmash of selectively chosen figures, false conclusions, and doomsday- esque misinformation.

The renewables boom is here to stay and, in combination with our existing state- owned baseload power assets, it is creating energy affordability and jobs for Queenslanders, particularly here in the North.

Our 50 per cent renewable energy target has created a stable and welcoming environment for investment.

Let me be clear, a higher penetration of renewable energy in the market will place downward pressure on electricity prices.

In fact, assessment of the modelling prepared for the Finkel Review shows the capital cost of a new ultra- supercritical coal- fired power station is at least 34 per cent more than an equivalent solar farm.

Renewable energy is undeniably the least expensive form of new energy generation to build in Australia, much cheaper than a new coal- fired power station.

The sheer number of major renewable projects underway – with more than 20 across the state, most of which are in the North or Far North, also means there will be jobs for many years to come.

What’s more, and through our Powering Queensland Plan, the Palaszczuk Government has been able to improve energy affordability due to its ownership of energy assets.

Those are the assets the previous Newman- Nicholls LNP government were hellbent on selling off.

We invested $ 770 million in dividends to slash regional electricity bills by half, significantly reducing the Queensland Competition Authority’s proposed power price increase across regional Queensland.

Under the QCA’s revised figures, the household bill increase in regional Queensland was 3.3 per cent, a saving of $ 56 compared to the original QCA outcome of 7.1 per cent.

Household power bills spiralled up by 43 per cent during the previous LNP state government’s time in office, compared to an average of 1.9 per cent each year under the Palaszczuk Government, thanks to the levers which are available to us because of our publicly owned energy assets.

Our action has meant Queensland has recorded the lowest bill increases of any mainland state, with other states recording increases ranging from 9 per cent to almost 20 per cent.

It’s this combination of baseload power and booming renewables industry that has allowed the Palaszczuk Government to foster conditions that have made Queensland the most stable electricity producing state in the National Energy Market.

Maintaining the state’s existing baseload generation fleet while adding more renewable energy to the mix is better for bills and our Reef, and is the right way to take the state’s regional economy forward.

SCOTT STEWART, Member for Townsville.