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QLD Premier provides ultimatum to QLD Retailers

QLD energy retailers have been requested by the QLD Premier to pass on lower electricity prices to customers or face public shaming and increased competition through a new government owned retailer.

The lower electricity prices are driven by the QLD Governments intervention in the market which consists of ordering Stanwell Corporation (state owned) to lower wholesale prices, the $770 million subsidy for non-solar households for QLD Solar Bonus Scheme and the recommissioning of the Swanbank E Gas power station. Premier Palaszczuk promised to name and shame retailers who did not commit to the pledge by this Friday. Moving forward, Ms Palaszczuk confirmed that her government and the QLD Competition Authority would be monitoring retailers on a quarterly basis. If it is found that retailers are not passing on the savings then she would order a re-entry by the government into the retailing sector.