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Power Prices ‘A Hidden Tax’

Filed under Breaking News, Business, Latest News

Shadow Energy Minister
Michael Hart

June 13, 2018

The LNP Opposition says this week’s State Budget has confirmed the government is using electricity prices as a secret tax on Queenslanders.

Shadow Energy Minister Michael Hart said government-owned power generators were raking in massive profits on the back of higher electricity prices.

“Last year, Labor’s budgeted generator income was $482 million for 2016-17,” Mr Hart said.

“Today, it was revealed they really made $1.241 billion. Labor charged $759m more than they said they would.

“If that’s not a hidden tax I don’t know what is.

“Labor’s record profits forecast last year are set to increase again with a further $492 million in dividends to be added over the next four years.

“The LNP has a plan to restructure these government-owned generators from two to three, increasing competition and lowering electricity prices.

“This would save Queensland families $50 a year.

“Meanwhile the Palaszczuk Government will continue to rip $1.7 billion in super-profits from these government-owned generators over the next four years, hurting all Queenslanders in the process.”

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