QLD LNP makes bold power claim
Queensland’s LNP says it will freeze bonuses for bosses of state-owned energy companies until prices drop.
LNP Leader Tim Nicholls made the pledge ahead of the upcoming Queensland election, but the Labor government has already labelled it a “cheap stunt”.
It is the latest in threats made by LNP members to the leaders of power companies, after Prime Minister Malcolm Turnbull secured an agreement that will see energy firms send letters to customers informing them of ways to find a better deal.
Mr Nicholls said rising power prices hurt everyday families, while some government energy bosses earn over $1 million a year.
“What we want to see is those chief executives and their management teams working hard to lower electricity prices, so bonuses will be frozen until power prices go down,” Mr Nicholls told reporters over the weekend.
“The freeze will take place immediately and not be removed until we see evidence of falling power prices.”
The policy would cover around 30 top executives at government-owned companies Powerlink, CS Energy, Stanwell, Energy Queensland, Energex and Ergon.
Mr Nicholls said executives could lower prices by finding general cost-saving measures, or even undertake sweeping changes like reducing investment in electricity infrastructure.
The opposition leader has also pointed to Palaszczuk Labor government's policy of taking a 100 per cent dividend from state-owned power companies to pay down debt as a “secret tax” on power.
Treasurer and acting Energy Minister Curtis Pitt said the LNP's plan was a meaningless gimmick.
“The drivers of electricity price increases must be addressed by coordinated action across jurisdictions,” Mr Pitt said in a statement.
“The LNP wanted to sell our power businesses off to the private sector, but Labor's policy of retaining them in public ownership has seen the government make strategic interventions to put downward pressure on prices.”
Power bills rose 43 per cent under the previous Newman LNP government, and have risen five per cent under Labor.
The state election is due by May next year but strongly predicted to be held before the end of 2017.