October 24, 2012
The State Government has blamed the debt levels of three of its government-owned corporations on the Federal Government and the Australian Energy Regulator.
Queensland Energy Minister Mark McArdle said the debt levels of Powerlink, Ergon and Energex have increased from $6.1 billion in 2005/06 to $12.6 billion in 2010/11.
He said the Federal Government’s underfunding of the Australian Energy Regulator (AER) – and placing it under the jurisdiction of the Australian Competition and Consumer Commission (ACCC) – was preventing the national energy regulator from doing its job.
“The AER is under-funded and poorly resourced to deliver the specialist work expected of the energy market regulator to police the National Energy Market successfully,” Mr McArdle said.
“Queensland, NSW and Victoria want an independent AER so it can effectively perform its role. The ACCC have been silent on this.
“Instead we see the ACCC lip-synching the words of Federal Labor in the national energy debate.
“I have been Energy Minister for more than six months in Queensland and not once has the ACCC raised concerns about rising costs of power transmission and distribution networks with me.”
Mr McArdle said the Federal Government was ignoring the reality that it was State Governments like Queensland that have been pushing for reform of the AER.
“Long before the LNP were elected in Queensland we could see that poles and wires were driving up electricity prices,” Mr McArdle said.
“However, it is only now that the Prime Minister is realising this fact.
“Perhaps the Federal Government can explain why they didn’t challenge Anna Bligh on this when she was Premier.”
Mr McArdle said the increase in debt by the three corporations was “a consequence of the AER approving more and more poles and wires”.
