McArdle spruiks electricity reforms

Reforms to reap billions for the state  energy minister says 16000646 800497637 0 0 6000010 300

Reforms to Queensland's electricity sector will see profits exceed $1 billion in a few years.

That's according to state energy minister Mark McArdle who explained that the changes to the industry need to take place more quickly, to maximise competitiveness and provide value for Queensland's bill payers.

He explained: "We have an excess of cheap coal yet we have soaring electricity prices.

"In many cases, it is because of overbuilding of the network. In other places it reflects on work practices that impede management from achieving greater efficiencies."

The minister added that he was confident reforms in the pipeline would aid in reducing electricity prices. But he did express his concern over some union pursued work practices - a phenomenon that may hold back reform.

Mr McArdle urged the unions to put their efforts towards working to keep electricity prices down and not running campaigns against "hypothetical asset-sales policies".

The reforms which have been spoken of include the reduction in the yearly cost of the Community Service Obligation (CSO).

Increasing the returns of the state-owned energy assets and reducing costs is the best way of showing value and keeping prices down for consumers, Mr McArdle explained.

If you are unhappy with your electricity provider, talk to a comparison and switching service for a better deal.

Posted by Charlie Moore