Labor doing power of good to reign in electricity prices

THE Palaszczuk Government knows electricity bills are impacting on households and businesses and we’re focused on helping out.

Under our Powering Queensland Plan we have acted swiftly to bring energy price relief, despite a broken National Energy Market and policy failures and buck passing under the Turnbull LNP Government.

The recent letter from the LNP Member for Burleigh Michael Hart forgot to mention the 43 per cent leap in average power bills under the NewmanNicholls government.

Under Labor, household bills have increased by just 5 per cent over three years, which is $ 69 on average.

If the LNP bill increase had been repeated, prices would be $ 600 higher.

All the LNP offers is a burden of at least $ 2.5 billion on taxpayers for an unwanted coalfired power plant and a further $ 4.2 billion for the unviable Tully Millstream hydro project.

Labor kept control of our income- generating power assets and has been able to use that ownership to place downward pressure on prices.

We invested $ 770 million to more than halve the rises recommended by the Queensland Competition Authority – saving $ 56 for the typical household and $ 99 for a small business compared to the original outcome.

Our intervention means Queensland has the lowest average household electricity price increase this year of any mainland state. CURTIS PITT, Treasurer and Minister for Trade and Investment.