Tag Archives: ergon

Coal, climate change, solar & batteries ā€“ why Qld Treasury wanted to offload the stateā€™s energy assets

The recent Financial Times report Development bank halts coal financing to combat climate change, reprinted in this morningā€™s AFR, should prompt some serious long-term thinking from the Queensland government and local governments with regional economies heavily dependent on coal mining, … Continue reading

Posted in Budget, Mackay, Mining, Uncategorized | Tagged , , , , , , , , , , , , , | 4 Comments

Merger savings good if they occur, but debt shuffle dubious

I am very flattered the Courier-Mail has a story about me this morning with the title on its website of The man who could clear Qld’s deficit: THE forecast deficit of $1.5 billion could be overcome by courageous decisions made … Continue reading

Posted in Budget, Uncategorized | Tagged , , , , , , , , , , , , , | 10 Comments

Energy GOCs equity raid a good example of problem with public ownership

I was quoted in the Courier-Mail this morning regarding the $3.5 billion the Queensland Government has withdrawn from equity in its power businesses (see chart above) for the purposes of paying down debt (see Earnings grab quick debt fix, Pitt … Continue reading

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QCA review suggests major budget savings available from slashing wasteful industry assistance

The Queensland Competition Authority published the final report of its Industry Assistance Review on Friday, and regrettably the Queensland Government was quick to reject its recommendations regarding a cut to drought assistance and the further review of subsidised regional electricity … Continue reading

Posted in Industry policy | Tagged , , , , , , , , | 3 Comments

QIC could still invest Govt super funds in GOCs, while Govt would argue it hasn’t technically raided super

I recalled a great scene from one of my all-time favourite movies All the President’s Men when the Queensland Government today issued what may be a “non-denial denial” regarding the alleged Budget plan to use super funds to pay down … Continue reading

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QCA finds multiple policy failures associated with billions in industry assistance in Qld

It appears that the QCA’s draft report on Industry Assistance in Queensland was released last Friday, a Friday before a long weekend, traditionally a good time to release reports that governments would rather be ignored and forgotten. But this report … Continue reading

Posted in Industry policy | Tagged , , , , , , , , , , | 3 Comments

Privatised electricity businesses would better achieve necessary efficiencies

It’s been clear for some time that the Australian Energy Regulator (AER) would make large cuts to future allowable revenues for Energex and Ergon, and that this would potentially impact Queensland Government dividend income. The preliminary determinations from the AER … Continue reading

Posted in Budget, Energy | Tagged , , , | 5 Comments

Risk to Qld Budget of lower dividends from Govt-owned businesses

In addition to royalties revenue being lower than previously forecast, a major risk to the Queensland State Budget in coming years is lower than expected dividends from government-owned businesses. Currently government-owned businesses contribute over $2 billion to the Budget or … Continue reading

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4BC Drive interview on election costings – problems with economic plans from both major parties

I had a nice chat with Ben Davis from 4BC’s Drive program yesterday afternoon on the economic plans the major parties are taking to today’s Queensland election. You can find the audio for the interview if you scroll down on … Continue reading

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Privatisation scoping studies should be released to inform public debate

If it hasn’t already been sent, I expect an email will be sent around Ergon Energy today decreeing that all whiteboards must be erased after meetings, after the embarrassing disclosure of privatisation planning to union officials via a whiteboard (see … Continue reading

Posted in Budget, Energy | Tagged , , , , , | 2 Comments