Asset sale spree starts with QLD looking to sell
The Queensland Competition Authority (QCA) has warned that electricity prices will rise by 13.6 per cent in July, while the State Government moves to sell some of its energy assets.
The QCA says bills are up 50 per cent from the past three years, and will continue to rise.
But the body says prices will only increase by 5.1 per cent if the Federal Government is able to repeal the carbon tax.
Queensland Energy Minister Mark McArdle says it is a reason to bring on deregulation of the market.
“We need to change the way we've done things,” he told the ABC.
“This means a direct relationship between the consumer and also the retailer, but protection for the consumer with strong laws.”
Meanwhile, Queensland Premier Campbell Newman is spruiking the idea of selling state assets to pay down increasing public debt.
Mr Newman is preparing to present his government’s final Budget for the term, which will make asset sales as a major platform in the next Queensland election.
As well as the immediate profit from selling the assets, it would mean the Newman Government gets access to the federal Asset Recycling Fund, which will provide billions in roads funding to states as a reward for privatisation.
Reports say power generators CS Energy and Stanwell will likely be privatised, as will the Townsville and Gladstone Ports.
But if an Electrical Trades Union (ETU) rally outside the Queensland Government’s executive building today is anything to go by, many are not keen to dump public-owned infrastructure.
ETU organiser Stuart Traill says the government does not know what Queenslanders want.
“What part of ‘no’ does the treasurer not understand?” Mr Traill asked in a statement.
“We do not want our assets sold.”
He says the union will also protest the predicted latest 13.6 per cent rise in electricity prices, which has been partly blamed on the massive increase in gas exports leaving too little for locals.
“Through their incompetence the government has failed again to uphold their promise to slash cost of living pressures and we will be pointing that out as well,” he said.