The Palaszczuk Government is rolling out another key
election commitment and establishing a Queensland Productivity Commission with
its first task to be conducting a public inquiry into electricity prices in
Queensland.
Treasurer Curtis Pitt said that during the election
campaign, Labor promised to deliver an expert independent body to review
complex economic and regulatory issues and propose policy reforms to
government.
Mr Pitt said all of the Commission’s reviews would be
undertaken by independent experts through an open and transparent process
informed by widespread public consultation.
“It will tackle issues such as housing affordability,
clean energy, industry and consumer regulation, regional development and
Indigenous economic development,” he said.
“The resulting recommendations will contribute to the
development of new policies aimed at boosting economic growth and delivering
higher living standards for all Queenslanders.
“The Commission will raise the bar for economic
decision making and will take on a similar set of roles and functions as the Australian
Productivity Commission and the Victorian Competition and Efficiency
Commission.”
Energy Minister Mark Bailey said the electricity price
review would need to balance a range of competing 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.”
Mr Bailey said the Queensland Competition Authority
would continue to set electricity tariffs for households and small businesses
for the next financial year.
“We will have stronger consumer protection measures in
place from 1 July to ease the financial burden on vulnerable Queenslanders,” he
said.
“These measures, under the National Energy Customer
Framework, will provide greater protections for energy customers in financial
hardship. There will also be improved protection for Queenslanders living in
retirement villages and caravan parks.
“Among the changes, electricity retailers will be
required to inform their customers ahead of any price changes, with exit fees
for leaving an electricity contract capped at $20.
“Ultimately, we want to ensure that vulnerable
Queenslanders have the protection they need when times are tough.”
Mr Pitt said the Queensland Productivity Commission
would be asked to deliver an interim report, with a focus on retail
deregulation.
“For some time many regional Queenslanders have been
asking for greater choice on electricity contracts,” he said.
“The QPC will consider retail competition for regional
parts of the state and as a result we may see more people entering market
contracts and getting a better deal.”
Media Contact:Treasurer’s Office +61427 919 548
Minister Bailey’s Office +61438 768 734
