Greens would push energy prices down
A new analysis of the energy policies presented by the major and smaller parties contesting the Queensland state election shows that the Greens would deliver the biggest electricity savings.
Labor would also push prices down, while One Nation and the LNP policies would force prices to rise.
Energy has emerged as one of the key factors in the Queensland poll, with the LNP and One Nation pushing for coal, and new coal-fired generators, while the ALP and the Greens are focused on clean energy, and targets of at least 50 per cent renewables by 2030.
The analysis by Queensland-based energy expert Hugh Grant concludes that there would be a wide range of price impacts arising from the various policies, ranging from a price reduction of around $600 a year from the Queensland Greens’ policies, to a price increase of around $30 from the LNP’s policies.
The full report says there are a number of factors driving the differing price impacts, but the key outcomes are the treatment of carbon and renewable policies, and how much profit from the government-owned energy companies the parties are willing to forego.
What do you think? Would you be more likely to vote for a party that could reduce your energy bills?
MEANWHILE IN VICTORIA
French energy giant Engie and Japan's Mitsui have sold the Loy Yang B coal-fired power station to Alinta Energy for more than $1 billion.
Alinta and Engie confirmed the sale of the Victorian 1000 megawatt brown coal power plant, which accounts for nearly a fifth of the state's entire energy needs.
Loy Yang Power stations A and B in Victoria's Latrobe Valley.
Photo: Paul JonesThe two sellers plan to close the deal before the end of the calendar year, however, a number of outstanding items may push the final closure into early 2018.
The acquisition is a return to coal for Alinta, following the closure of its Northern and Playford coal-fired power stations in South Australia in 2015.
Alinta Energy chief executive Jeff Dimery told Fairfax Media the acquisition of Loy Yang B in Victoria's Latrobe Valley has been a lengthy process, but that the purchase "is very exciting".
"We were attracted to Loy Yang B by the fact it is the newest brown coal generator, so it is likely to be one of the last operating; it is also one of the more efficient power stations and is very reliable," he said.The acquisition is part of the company's plan to expand its presence along the east coast. By buying Loy Yang B, it can now provide energy to this customer base.
"What we needed was to serve energy to underpin our growth rate," Mr Dimery said.
Commenting on the deal on Thursday, Engie stated that its motivation for the sale was to reduce its exposure to coal-fired power.
"This transaction confirms Engie's positioning in low-carbon generation, energy infrastructures and integrated customer solutions," its chief executive Isabelle Kocher said.
Federal energy minister Josh Frydenberg declined to comment on the sale.
Loy Yang B has been slated to shut down in 2043
A rubbish report
Bottom line is they say they will bring down prices by subsidising households .
Means a budget shortfall that will have to be plugged through higher taxes from other sources
Idiots