AAP General News (Australia)
12-02-2008
Qld: Watchdog proposes 14% power price rise
BRISBANE, Dec 2 AAP - Queenslanders could pay an extra 14 per cent for electricity
if a proposal by the state's competition watchdog is accepted.
The Queensland Competition Authority (QCA) on Tuesday released its recommended price
cap, or benchmark retail cost index, which is used to set power prices each year.
The QCA said the price cap should rise by 13.63 per cent from July 2009.
It said the rise was needed because of the rising price of fuel and capital costs and
an increase in transmission and distribution costs.
Queensland Energy Minister Geoff Wilson said he would now examine the proposal.
"I recognise that it's a blow for Queenslanders struggling on tight budgets," Mr Wilson said.
"I've directed my department to closely scrutinise that decision to ensure that that
proposal by the Queensland Competition Authority provides nothing other than for the genuine
increases in prices for electricity over the last 12 months."
AAP pjo/maur
KEYWORD: POWER QLD
2008 AAP Information Services Pty Limited (AAP) or its Licensors.
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