Future electricity prices will be stabilised to ease cost of living pressures as a result of the Queensland Government’s 30-year plan for the electricity sector, PowerQ.
QLD Energy Minister Mark McArdle said the plan would deliver a more cost-effective, consumer focused, resilient and better planned electricity supply system.
“PowerQ is the result of extensive consultation with everyday Queenslanders, electricity retailers, generators and industry representatives, who will all have further roles to play as the strategy’s actions are delivered,” Mr McArdle said.
“Our electricity sector is changing dramatically and we will continue to see a transformation over the coming decade that will alter the way we make, move, buy, sell, and use energy in the future.
“PowerQ will give Queensland households, small businesses and industry greater choice, flexibility and control over how they use and pay for electricity.”
PowerQ includes strategies to provide policy certainty to encourage strong competition and benefit consumers; use customer data and feedback to create a more responsive market; encourage a competitive and diverse market that attracts more innovation and investment; and increase Queensland’s prosperity by ensuring our electricity market is more affordable and efficient.