Queensland Government puts electricity price deregulation on hold
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Queensland Government puts electricity price deregulation on hold Updated April 28, 2015 11:53:37 The Queensland Government has put the deregulation of electricity prices on hold to establish a commission to conduct a public inquiry into electricity prices in the state. Deregulation, which would allow the market to decide the price of electricity, was due to take effect in two months. That has now been put on hold for a year. Treasurer Curtis Pitt said all of the Queensland Productivity Commission's reviews would be undertaken by "independents experts through and open and transparent process informed by widespread public consultation". "The resulting recommendations will contribute to the development of new policies aimed at boosting economic growth and delivering higher living standards for all Queenslanders," he said. Energy Minister Mark Bailey said the electricity price review would need to balance a range of interests and seek to protect the interests of consumers. "The review will also take into account the need for a competitive electricity market, efficient investment in infrastructure and good environmental outcomes," Mr Bailey said. "To enable the Queensland Productivity Commission to do its job effectively, the previous LNP Government's decision to deregulate retail electricity prices in south east Queensland will be placed on hold for 12 months. "This way, input can be sought from the community, businesses, industry and key stakeholders so that the final deregulation model is in everyone's best interests."
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Transcript of Queensland Government puts electricity price deregulation on hold
Queensland Government puts electricity price deregulationon hold
Updated April 28, 2015 11:53:37
The Queensland Government has put the deregulation of electricity prices on hold to establish acommission to conduct a public inquiry into electricity prices in the state.
Deregulation, which would allow the market to decide the price of electricity, was due to take effectin two months.
That has now been put on hold for a year.
Treasurer Curtis Pitt said all of the Queensland Productivity Commission's reviews would beundertaken by "independents experts through and open and transparent process informed bywidespread public consultation".
"The resulting recommendations will contribute to the development of new policies aimed atboosting economic growth and delivering higher living standards for all Queenslanders," he said.
Energy Minister Mark Bailey said the electricity price review would need to balance a range ofinterests and seek to protect the interests of consumers.
"The review will also take into account the need for a competitive electricity market, efficientinvestment in infrastructure and good environmental outcomes," Mr Bailey said.
"To enable the Queensland Productivity Commission to do its job effectively, the previous LNPGovernment's decision to deregulate retail electricity prices in south east Queensland will be placedon hold for 12 months.
"This way, input can be sought from the community, businesses, industry and key stakeholders sothat the final deregulation model is in everyone's best interests."
Mr Bailey said the previous government rushed the decision to deregulate power prices.
"Once again [it was] out of touch with people and that is why we want to work with consumergroups, we want to work with retailers, to ensure that consumers are protected and that there'sinformation out there, so that people understand what deregulation is about when it starts in July2016," he said.
Mr Bailey said the Queensland Competition Authority would continue to set electricity tariffs duringthat time.
Topics: electricity-energy-and-utilities,qld
First posted April 28, 2015 11:14:26
http://www.abc.net.au/news/2015-04-28/queensland-government-hal-s-electricity-pri-e-deregulation/6427222
