Queensland Premier Steven Miles has unveiled what he's calling the first stage of his plan for cheaper energy. It will see another publicly-owned power retailer established to compete with ergon in the regions. While homeowners may welcome the promise of cheaper power the industry has branded it "policy on the fly".
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00:00Pressing the flesh in Mackay, a shopping centre visit to meet the masses, some with messages
00:11of their own.
00:16An opportunity to get his boots polished and to polish his pitch.
00:23This election is all about who can tackle the cost of living and who has a plan for
00:28our state's future and our cheaper energy plan does both of those things.
00:33Stephen Miles is promising to create a new publicly owned energy retailer in Queensland
00:38if Labor is re-elected.
00:39We've listened to Queenslanders, particularly regional Queenslanders, who've said that they
00:44want a choice.
00:45Government owned entity Ergon Energy is the main retailer for regional Queensland.
00:50Labor wants to set up a second state owned body, which it says would compete against
00:55as well as with the private sector in the southeast.
00:58It would be up and running within 12 months at a cost of $1.4 million.
01:03We won't be seeking the 6% margin that other retailers can claim under the national rules.
01:11We won't be seeking that and so it's just going to put more competition in the market.
01:15Frith-Peterson runs a health and welfare business in Rockhampton.
01:19She says she's cut right back on power usage, yet her power bill hasn't changed since last
01:25year.
01:26I've only turned the aircon on recently because we're trying to keep the cost down because
01:30I guess the price per kilowatt is going up.
01:33She's a fan of any measure to reduce bills.
01:36Having a monopoly is a difficult thing because you can't make a choice.
01:42But the state's peak business body is scathing.
01:45It's policy on the fly, it has the potential to be anti-competitive, to not bring prices
01:49down and to not deal with the issue which is the cost of energy.
01:53The LNP also unconvinced.
01:55He talks about setting up competition in the retail market when he already owns, as a state
02:02government, retailing outlets.
02:05This economist says there may be a moderate price reduction in regional areas, but the
02:10broader impact is uncertain.
02:12It's a small step, we shouldn't be overstating it and expecting a lot from it, but it's one
02:15step away from the failed model we've been stuck with for the last 20 or 30 years.
02:20This is the second time Labor's announced a policy to set up publicly owned initiatives.
02:25Two months ago it announced if re-elected it would open a dozen state-owned fuel stations,
02:31a move that was criticised by some industry groups as being risky.
02:35Both leaders have this afternoon moved to Rockhampton.
02:38They'll spend the night here in the beef capital, but there's little chance of catching up for
02:43a beer.
02:44I'm busy.
02:45I've got to get ready for the debate tomorrow.
02:48Cheers to that.