Australia’s largest electricity distributor will be named Energy Queensland following the merger of Ergon and Energex in coming weeks.
Treasurer Curtis Pitt unveiled the new company’s logo at the new company’s headquarters in Townsville, saying, “the simplicity of the company’s name reflects the efficiencies we’re looking to achieve”.
“By streamlining the companies to improve productiveness we will ultimately deliver power bill savings for customers in the longer-term,” Mr Pitt said.
The merger has removed duplication in administration, shared services, boards, management and corporate costs, with Mr Pitt saying the available funds can be re-invested into better services for Queenslanders, while retaining public ownership of the state’s electricity assets.
“Rather than sell these assets to the private sector and watch power prices soar, the Palaszczuk Government is delivering on its election commitment to reduce costs and make these businesses work better for Queenslanders,” he said.
Mr Pitt said the logo reflects Queensland’s borders, representing how the new business will reach every corner of the state.
Energy Minister Mark Bailey said Energy Queensland was deliberately headquartered in Townsville to maintain a strong regional presence.
“This new business will support the development of regional Queensland and will have a clear focus on providing regional Queenslanders with access to the innovative new products and services available in other parts of Australia,” he said.
“While we work through the transition Ergon and Energex will continue to provide safe and reliable energy to Queensland.
“We will continue to ensure regional customers pay a similar price to SEQ – this year we’ll spend almost $500 million subsidising the cost of electricity in regional Queensland, supporting 700,000 regional Queensland customers.”
Minister Assisting the Premier on North Australia and Member for Mundingburra Coralee O’Rourke said the new company – Energy Queensland – was on track to open its Townsville headquarters in coming weeks.
“I’m very excited that this merger will bring more jobs to North Queensland and look forward to the economic activity this will bring to our region over the coming years,” Mrs O’Rourke said.
“Frontline staff will continue to operate in their respective regions to ensure the network businesses continue to be leaders in emergency response and to ensure the lights remain on for Queensland businesses and households.”
Mrs O’Rourke said there will be no forced redundancies.
“Energy Queensland will look at options to utilise renewable technologies in regional Queensland, particularly in remote areas of our state, to improve reliability and sustainability of electricity supply,” she said.