The Palaszczuk Government’s 2017 Budget delivers a $1.16 billion Powering Queensland Plan and priority energy and water infrastructure across the State.
Minister for Energy, Biofuels and Water Supply Mark Bailey said this year’s State Budget delivers over a billion in subsidies and support across the energy and water supply portfolio, further securing reliable and cost-effective delivery of these vital services for Queenslanders.
Minister Bailey said that in addition, more than $2 billion in capital expenditure was planned to be delivered across government owned water and energy bodies in 2017-18.
“The Palaszczuk Government is committed to reducing cost-of-living pressures for Queenslanders, and ensuring affordable prices for households, business and industry,” Minister Bailey said.
“The Powering Queensland Plan is the Palaszczuk Government’s road map to drive down energy costs, lead the transition to a low-carbon economy and deliver jobs and investment.
“This includes a $770 million energy affordability package for all Queenslanders, and a $386 million investment for North Queensland to strengthen and diversify energy supply in the North.
“A clean energy boom is happening in Queensland, and our $150 million investment for a strategic transmission line will support the establishment of a North Queensland Clean Energy Hub, in turn supporting around 4,600 jobs.
“In addition $236 million is committed to upgrade Burdekin Falls Dam and fund the proposed hydro-electric power station, an investment in water supply and sustainable energy generation in the North.
“We will also contribute $2.5 million to the investigation and possible establishment of a ‘CleanCo’ that will own the State’s renewable and clean energy assets.
“Under the Powering Queensland Plan we will be examining whether State owned hydro-electric and gas generation assets, as well as the new renewable energy projects announced in this Budget, become the foundation assets of ‘CleanCo’ and increasing competition in the wholesale market.”
Minister Bailey said the Palaszczuk Government continued its commitment to subsidise regional Queenslanders’ electricity bills to make sure they pay a similar amount for their electricity to those in South East Queensland, with an investment of $490.7 million.
“The Palaszczuk Government is also providing additional funding of $10 million over two years for a regional business assistance package, to deliver better access to digital metering, more information about tariff options, and co-contributions to help customers invest in operational and equipment changes to better manage bill impacts,” Mr Bailey said.
“The Palaszczuk Government is committed to putting downward pressure on cost of living expenses, creating jobs and growing the economy. We are delivering on all fronts through the Powering Queensland Plan, and the 2017-18 Budget.
“On average household bills will have increased by just 1.9 per cent per year on average under our first term. This is in stark contrast to the 43 per cent increase inflicted by the Newman-Nicholls government while in office.
“We will continue to use public ownership to back in Queensland consumers by putting downward pressure on prices and ensuring a secure supply of energy.”