Asset sales for Queensland on the books under LNP plan

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Australian Government Business Business & Economy Energy & Water Money & Finance Political Queensland Government

This is an archived copy of an article. It is online for informational purposes only.

Today’s Australian Competition and Consumer Commission report lays bare the LNP’s plan to sell Queensland energy assets.

The recommendation on page 93 of the full report states that Queensland should break up its energy assets and sell them.

The report also makes it clear that Queensland has the lowest wholesale prices in the National Electricity Market following the Queensland Government’s direction and points to onshore gas shortages as an ongoing issue.

Energy Minister Dr Anthony Lynham said Queensland had already had two elections on asset sales.

“Queenslanders don’t want us to sell their electricity assets – their power stations, poles and wires that deliver electricity across the state, no matter where you live,” Dr Lynham said.

“The Palaszczuk Government’s actions are already seeing electricity prices decrease and this has been acknowledged by the ACCC.

“Selling assets hasn’t worked in New South Wales and Queensland continues to prop up the National Energy Market.

“And because we own the assets, we’ve been able to direct prices to be lower.

“Public ownership is working.”

Dr Lynham said the LNP had serious questions to answer.

“Deb Frecklington refused to rule out asset sales in her budget reply,” he said.

“Will the Prime Minister now force her hand to declare her plan?.”

Dr Lynham said some of the recommendations around increased generation and retail reforms were in line with what the Palaszczuk Government was already doing through its Affordable Energy Plan, and Queensland was open to looking at further action on retailers.

Page 85

“In 2017–18, Queensland demand was at record levels, and following the direction to Stanwell Corporation, Queensland wholesale prices were considerably lower.”

Page 93

“Once created, the Queensland Government should ensure that the three portfolios are separately owned and operated by selling at least two of the portfolios.”

Minister for Natural Resources, Mines and Energy
The Honourable Dr Anthony Lynham

The Honourable Anthony Lynham, Minister for Natural Resources, Mines and Energy :
Queensland Wide
07 3719 7360
The Honourable Anthony Lynham, Minister for Natural Resources, Mines and Energy
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