Premier threatens to name and shame energy retailers
A state premier and treasurer are stepping up pressure on energy retailers, threatening to “name and shame” companies that fail to pass on electricity savings.
The comments come ahead of the Queensland state budget, which will be delivered by Treasurer David Janetzki on Tuesday.
Prime Minister David Crisafulli warned energy retailers would be given a “very small window” to pass on savings to consumers.
“Be careful because you will be named and embarrassed and we have a lot of leverage up our sleeves,” he told reporters in Brisbane on Sunday.
“If that doesn’t happen, watch this space on Tuesday.”
Mr Janetzki repeated the threat, saying state-owned Ergon Energy, which serves regional Queensland, had been directed to transfer the full savings.
“If energy costs are going down, electric bills should be down too,” he said.
The Queensland Competition Authority confirmed in early June that electricity costs would fall by 6.9 per cent for regional households and 8.1 per cent for small businesses from the beginning of July.
Higher availability of Queensland coal generators, lower gas prices and increased investment in batteries and renewables are helping to reduce electricity bills, it said.
The government also announced a freeze on water bills in south-east Queensland, saying it would save the average household $130 over two years.
The treasurer faces a difficult balancing act with a tight budget due to heavy capital spending ahead of the 2032 Olympics, skyrocketing debt and volatile revenue backed by coal royalties.
Despite competing pressures, the government is promising no new or increased taxes and says such measures to boost government coffers are the easy way out.
Mr Crisafulli was also asked on Thursday about a call by mining magnate Gina Rinehart, Australia’s richest person, to gift Queensland land to Elon Musk, the world’s richest man, for SpaceX rocket launches.
“I didn’t really think about it,” he said.
“But we see things like defense and space exploration as an opportunity for Queensland… We’re absolutely delighted to be playing our part in energizing anyone who wants to invest in this great state.”
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