Power bill rise will be modest

RESIDENTS and businesses are expected to receive a modest spike to their power bills after a draft decision on prices handed down by the Queensland Competition Authority.

QCA chair Professor Roy Green yesterday handed down the draft document on regulated prices for regional areas and said changes to tariffs would not be as significant as previous years.

“While there has been a marked increase in expected wholesale energy costs since the 2016- 17 final determination, this has been largely offset by an expected decline in network costs,” he said.

“In line with the anticipated change in the consumer price index, the draft forecasts show a 1.7 per cent increase in the annual bill for a typical customer on the main residential tariff ( tariff 11) and a 1.5 per cent increase for the typical customer on the main small business tariff ( tariff 20).

“The annual notified price bill for a typical customer on the main residential tariff is expected to increase by $ 25 from $ 1490 to $ 1515.

“For the typical customer on the main small business tariff, the annual increase is expected to be $ 37 ( to $ 2486).”

Energy Minister Mark Bailey said the results showed prices were stabilising.

“The report also revealed restrained network costs had held down the increase in electricity prices,” he said.

Mr Bailey said it was because of government intervention.

But Opposition energy spokesman Michael Hart said LNP reforms had covered Labor inaction.

“Annastacia Palaszczuk and Mark Bailey can spin it any way they like, the fact is they promised Queenslanders power prices wouldn’t go up – but they have,” he said.