{"id":355697,"date":"2024-12-04T13:08:19","date_gmt":"2024-12-04T03:08:19","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=355697"},"modified":"2024-12-04T13:08:19","modified_gmt":"2024-12-04T03:08:19","slug":"borumba-costs-blow-out-to-18b","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2024\/12\/04\/borumba-costs-blow-out-to-18b\/","title":{"rendered":"Borumba Costs ‘Blow Out’ To $18b"},"content":{"rendered":"
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Treasurer David Janetzki<\/figcaption><\/figure>\n

December 4, 2024<\/strong><\/p>\n

Queensland Treasurer David Janetzki plans to meet with Queensland Hydro – the corporation responsible for the Borumba Pumped Hydro project – this week “to work out a way forward to save the project”.<\/p>\n

This follows the revelation by the State Government on Wednesday the project is billions of dollars over budget and years behind schedule.<\/p>\n

The State Government says a report commissioned by the previous government showed the overall cost of project had blown out by $4 billion, taking the total to more than $18 billion.<\/p>\n

The report, by Queensland Hydro, also stated there was less than a 1 per cent chance of the project being completed in time for its planned first power in 2030;\u00a0 the risk-adjusted final completion date was now July 2035 not November 2032.<\/p>\n

Mr Janetzki said Labor\u2019s energy policy “was a house of cards waiting to collapse\u201d.<\/strong><\/p>\n

\u201cThe report shows the former Labor Government\u2019s timing and costings were pie in the sky. They might as well have been made up entirely,” he said.<\/p>\n

\u201cThe government will deliver an energy policy guided by engineering and economics, not ideology. Our energy policy will always be grounded in reality, on cost, timeframes, and delivery.\u201d<\/p>\n

Mr Janetzki said he would meet with Queensland Hydro to work out a way forward to save the project on Thursday, covering off environmental, stakeholder and cost issues.<\/p>\n

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