Renewable future

THE renewable energy boom is surging in Queensland, thanks in no small part to the Palaszczuk government’s strong support of the industry.

We make no apologies for encouraging what has become the cheapest way to power homes and businesses in this state, while at the same time retaining Stanwell and CS Energy base-load power supply generators in public hands.

Renewable energy is undeniably the least expensive form of new energy generation to build in Australia, much cheaper than a new coal-fired power station.

In fact, assessment of the modelling prepared for the Finkel Review shows the capital cost of a new ultra-supercritical coal-fired power station is at least 34% more than an equivalent solar farm.

Combined with our public ownership of base-load power stations, which the LNP wanted to sell off, Queensland is an energy powerhouse.

While Ian Brookfield’s letter might not suggest it (NM, October 5), this is an economically sensible way to approach the mess created by the Turnbull Coalition government’s inaction towards a broken National Energy Market.

Let me be clear, Federal Coalition inaction on energy policy is what has driven up power prices, not renewable energy.

Coal-fired generation has been dismissed by everyone from AGL and Energy Australia to the Federal Treasurer himself as expensive legacy technology.

What’s more, power bills spiralled up by 43% during the previous state LNP government’s time in office, compared to an average of 1.9% each year under the Palaszczuk Labor government thanks to our reinvestment of dividends from publicly owned energy generators to reduce bill increases.

Queensland has the lowest bill increases of any mainland state in the broken National Electricity Market, with other states seeing increases ranging from 9% to almost 20%.

Our 50% renewable energy target has created a stable and welcoming environment for investment, bringing jobs to regional Queensland.

We have also recorded the lowest wholesale electricity price of any state in the National Electricity Market averaged over this financial year.

Expensive legacy technology like coal-fired power will lock in high prices and high emissions for decades to come, while the renewable energy boom created by the Palaszczuk government is placing downward pressure on power prices and delivering jobs to our regions.

Maintaining the state’s existing base-load generation fleet while adding more renewable energy options to the mix is better for bills and our reef and is the right way to take the state’s regional economy forward. — LEANNE DONALDSON Member for Bundaberg