Queensland power assets continue to pay dividends


Nearly 2 million households will see another $50 taken off their electricity bills from this month thanks to Queensland’s publicly owned power assets.

The dividends come on top of the Palaszczuk Government’s COVID household relief package, which provided Queensland households with $200 off their utility bills and $500 for small business.

Premier Annastacia Palaszczuk said Queenslanders continued to reap the rewards of owning their electricity assets with the recent $50 dividend being applied as a credit on their electricity bills.

“Queensland has an economic strategy for recovery from the global coronavirus and it is important to help households pay their power bills during these tough times,” Ms Palaszczuk said.

“Because of our strong health response, we are able to get on with helping Queensland Unite and Recover in this post-COVID economy.”

The dividend payment already applied to some Ergon regional bills from last week and will be appearing progressively as people receive bills.

Energy Minister Dr Anthony Lynham said the Palaszczuk Government had also locked in another annual $50 dividend payments to go to Queensland households in 2021.

“Queensland has the energy trifecta: lowest average prices on the eastern seaboard, reliable supply and a planned transition to a renewable future,” he said.

“We can do this because we own our energy assets: assets the LNP would sell if given the chance.

“Unlike other states, the dividends from our publicly-owned companies flow not to multinational shareholders overseas, but to Queensland families across the state.”

The $50 dividend payment dividend will go to home owners, tenants, customers who receive an electricity bill from their landlord or body corporate, and customers in communities with card-operated meters.

Queensland’s publicly-owned electricity companies – Powerlink, Ergon, Energex, CS Energy, Stanwell Corp and CleanCo – will invest more than $1.76 billion on capital works in 2020-21, supporting up to 3920 jobs.

/Public Release. This material comes from the originating organization/author(s)and may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.