The state-owned company in charge of a multibillion-dollar power line project in north Queensland has called for it to be restructured so it starts paying for itself sooner, amid fresh criticism of cost blowouts and a walk-back of major renewables plans by the new state government.

CopperString – a plan to build more than 800 kilometres of high voltage power lines between Townsville and Mount Isa – was meant to unlock new industries in a minerals-rich region by connecting it to the energy grid.