Queensland Shadow Treasurer and Energy Spokesman Curtis Pitt has taken aim at the Newman Government’s latest promises concerning electricity prices in the state.
Energy Minister Mark McArdle yesterday announced changes he claims will save electricity distributors $2 billion dollars.
“No-one will forget Campbell Newman’s pledge during the 2012 election campaign to lower electricity prices by $120 per year, and then driving average prices up by $460 over two years,” Mr Pitt said.
Mr Pitt also criticised Minister McArdle’s move to abolish the mandatory 8c solar feed-in tariff; leaving households with solar power systems to negotiate directly with electricity retailers for a rate on their exported power. Mr. Pitt says the Minister has admitted this would save the princely sum of less than $1 a month on the average Queensland’s household’s electricity bill.
Reacting also to comments from Minister McArdle in the Courier Mail, Mr. Pitt seized on the Minister’s admission that green energy is not the major driver of electricity price rises in the state.
“Finally the LNP has admitted that the biggest contributor to electricity price rises is the network charges they oversee as the Government,” he said.
“As the independent Queensland Competition Authority figures show if only the carbon tax and environmental policies were a factor prices rises this year would be just 3% on average not a record 22.6%.”
It’s an interesting side-point that a major beneficiary of power price rises in Queensland is the State Government. Analysis carried out last year indicates electricity price increases have delivered a compounding 114% growth in financial returns to the State Government annually.
No doubt many Queenslanders are still considering installing solar given the ongoing financial pain at the power point. Even with the proposed changes to feed in tariffs, solar panels remain a solid investment. However, the future of subsidies under Australia’s Renewable Energy Target – which can take thousands off the cost of solar power systems – are also in doubt. That being the case, the best time to go solar may be right now.
