Queensland Premier Steven Miles says his government will create a new publicly owned energy retailer to create competition and reduce energy prices if Labor wins the upcoming state election on 26 October.
Miles said the state-owned retailer would operate Queensland-wide, competing with Ergon Energy.
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Ergon is a subsidiary of the government-owned Energy Queensland, and services around 97% of Queensland.
“We estimate it could save consumers up to 6% on their energy bills which is the regulated profit margin for non-publicly owned generators,” the premier said.
“We know more competition equals lowers prices and we know that publicly owned corporations can compete against each other to deliver that competition.
“This will ensure people in regional Queensland have choice while people in the south-east can again choose a publicly owned operator.”
Queensland’s Labor party has addressed a number of recent pain points among voters in the lead up to the state election, including the introduction of 50c fares for public transport.
Miles also promised Labor, if returned to power, would set up 12 state-owned petrol stations and limit fuel price rises to just five cents a litre on any given day.
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Meanwhile, Opposition Leader David Crisafulli says the LNP will consider keeping Callide B coal power station operating past its scheduled closure in 2028.
Crisafulli’s comments came as a new report said Queensland power bills could rise by up to $200 in 2028 if the LNP scraps Queensland’s current renewable energy targets.