Online tool reveals how much you will save on electricity
THE Queensland Government will consider splitting energy generators up, as an ACCC chairman speech recommended, should they be re-elected.
Treasurer Tim Nicholls said the government would consider all advice given to them regarding the lease of electricity assets.
Mr Nicholls today unveiled an online calculator allowing Queenslanders to work out how much money will be saved off their electricity bills should the government's cost of living savings policy.
The government announced over the weekend they would use $3.4 billion from the proposed leasing of government assets to reduce the price of electricity.
Mr Nicholls demonstrated the online calculator to show he would save $667 over the next five years under the scheme.
The leasing policy has been criticised by the Labor party who state it is no different from selling off the assets, which include power generators and distributors as well as the Gladstone and Townsville ports.
Mr Nicholls said the policy would reduce cost of living for Queenslanders.
"While we know the typical Queensland household will save $577 on their power bills over the next five years, this online calculator will give a much more individualised determination for families, based either on their latest bill, or an estimation of how much electricity their household uses," he said.
"And importantly, under our plan there will be no change for existing solar customers.
"Put simply, instead of their feed-in payments coming from the price of electricity, it will come from the $3.4 billion Strong Choices Cost of Living Fund."
However, the Electrical Trades Union said Queenslanders could save more on power bills if electricity companies remained in public hands and dividends were used to provide bill relief.
Energy Minister Mark McArdle said the online savings calculator was an easy way for Queensland families to factor in their future savings should the government be given a mandate for the lease plan.
"This tool gives Queenslanders the opportunity to use their own bills to see what the real savings will be for their family, right there on the screen," Mr McArdle said.
"Now, if given a mandate to act on our Strong Choices lease plan, we will have the funds available to take six per cent off retail electricity prices in 2015/16."
Mr Nicholls said the data and valuations used to create the online electricity savings calculator were reviewed and verified by former Auditor-General Len Scanlan.
USE THE TOOL BELOW TO CHECK OUT THE SAVINGS YOU COULD MAKE