Calls for overhaul of electricity prices

Calls for overhaul of electricity prices 16000646 800467534 0 0 15411 300

The majority of Queensland businesses are unsatisfied with the current price of electricity, according to the results of a new survey.

The Chamber of Commerce and Industry Queensland (CCIQ) has canvassed the state's business owners and provided a snapshot of the struggle experience by the majority of owners to pay their energy bills.

Energy prices have increased 64 per cent over the last five years, according to the new report, which has tracked increases for each year since deregulation.

The carbon tax is expected to increase electricity prices by ten per cent, with an hike for gas prices of around nine per cent.

A state government-led change of the electricity pricing model has been recommended by CCIQ.

Savings for consumers and businesses may be the result of a switch to a supply-based model - as outlined in CCIQ's Energy Blueprint.

Their recommendations include productivity and expenditure benchmarks to improve service, as well as financial incentives and subsidies for those companies that succeed in improving the energy efficiency of their operations.

Queensland is still largely dependent on coal-fired power generation.

Many are already comparing electricity and gas prices at alternative suppliers in an effort to cut costs.