The Queensland government is preparing to sign off on a first-year pay rise of more than 13 per cent for thousands of workers at its state energy providers, raising concerns the huge cost increase could lead to higher power prices.

The Electrical Trades Union has achieved in-principle deals with Energy Queensland and Powerlink that will secure a 4.5 per cent pay rise for 5000 employees from March in addition to an 8.6 per cent “CPI adjustment” from February to account for past inflation.