All Queensland electricity retailers except two micro-operators have responded to Premier Annastacia Palaszczuk’s Affordable Energy Pledge to save Queenslanders money on their power bills.
Retailers had until 5pm today to respond to the deadline set by the Premier when she met retailer representatives on Tuesday.
Of 22 retailers operating in the market, 20 have indicated they will sign the Affordable Energy Pledge,” the Premier said.
Only Sanctuary Energy and People Energy, which represent less than 0.1% of the Queensland retail electricity market, are yet to respond.
The Premier said the near-universal acceptance was a great outcome from this week’s meetings.
“As I said on Tuesday, our meeting with retailers was very productive, and I thank those who have come on board for their willingness to help Queensland electricity customers.
“To the small number of customers with Sanctuary Energy and People Energy, I say urge your retailer to join, or make the move to one of the other 20 companies that have signed the pledge.
“The retailers’ pledge means Queenslanders can be assured they will receive the full benefit of our public ownership of electricity assets.
“We have now taken measures to address all three elements of the costs in every Queensland power bill – the cost of generating electricity, the cost of transmitting it to homes and businesses and the margins charged by retailers.
“We are the only government in Australia that can take this comprehensive action, because we are the only state that owns the generators, poles and wires.”
Minister for Energy Mark Bailey said the Palaszczuk Government’s Affordable Energy Plan was winning support from all sections of the community.
“Today, the Queensland Council of Social Services has welcomed our Affordable Energy Plan, citing the $50 public ownership dividend and average inflation cap on power prices as measures that will help Queensland families,” said Mr Bailey.
“QCOSS singles out the expansion of our Energy Savvy Families program as a measure that will help families, and it is one where we welcome our partnership with QCOSS in delivering it.
“I am pleased to be able to say that as of Friday afternoon, an additional 969 regional customers have signed on to our Easy Pay Rewards program announced this week, which offers discounts of $75 for regional households and $120 for regional businesses who agree to pay their bills weekly, monthly or by direct debit.”
The Palaszczuk Government has tasked the Queensland Competition Authority to monitor retailers’ pricing on a quarterly basis, and the government reserves its right to re-enter the retail market if necessary.
Queensland Affordable Energy Pledge
1. Pass on, in full and display on bills to customers the savings in the Government’s Affordable Energy Plan, including the rebate of $50 a year for every household bill over the next two years, starting from January 2018 and evident on bills from the second quarter of 2018
2. Pass on savings from government intervention that have been modelled by ACIL Allen. The report is available at http://statements.qld.gov.au/Statement/2017/10/24/stopping-lnp-electricity-privatisation-lowers-electricity-prices-study
3. Fully co-operate with a new Queensland Competition Authority investigation, under the Electricity Act 1994, into electricity bills paid by residential customers in the deregulated south-east Queensland market and comparisons with the regulated market in regional and rural Queensland; and
4. Assist with advising consumers of electricity concessions available for pensioners, seniors and health care card holders.