How Queensland Govt could cut power bills by $310 a year
THE government could cut electricity bills by $310 a year, without selling a single power asset, a new report has found.
An independent analysis of the Queensland government's electricity sector cash flows, commissioned by the Electrical Trades Union but carried out by Orion Consulting Network, found if the profits from state-owned electricity assets were funnelled back into the network, power prices could be reduced.
The report's authors used publicly available figures to analyse the network between 2007 and the projected outcomes to 2015.
It found that the revenue generated from the government-owned corporations in the energy sector would cover the solar feed-in tariff costs ($143 per household in 2015) and the Uniform Tariff Policy, which ensures regional and rural Queenslanders don't pay more for their electricity ($318 per household in 2014),and still have $167 per household in excess revenue.
If the government decided to subsidise the cost of the solar bonus scheme and use that $167 excess the average annual household bill would drop by $310.