By Associate Professor Tim Nelson, Griffith Business School
The energy ‘trilemma’ continues to be a challenging policy area for governments around the world. Delivering reliable electricity supplies while reducing greenhouse gas emissions in a manner that ensures prices are efficient and affordable underpins the approach of the Queensland Government’s energy policy.
Recent price announcements by energy retailers show that prices are now declining in Queensland after increasing steeply in recent years. Competition continues to be the means of ensuring efficiency and competitive pricing. Given this, it is unsurprising that the centrepiece of the Queensland Government’s policy is the Affordable Energy Plan.
The budget appropriation statements show that funding of this Plan is provided through the Electricity Asset Ownership Dividend. In simple terms, dividends from the Queensland Government’s own electricity corporations are funding this Plan. The Plan is aimed at approving energy affordability and has the following elements:
Energy rebates for Queenslanders of $50 per year;
$20