Editorial: Short-circuit on power price simple

THE draft report by the Australian Energy Regulator has not gone anywhere near far enough to address the skyrocketing power prices.

Editorial: THE draft report by the Australian Energy Regulator has not gone anywhere near far enough to address the skyrocketing power prices crippling not only residents but also producers.

While Labor's Energy Minister, Mark Bailey, claims that electricity bills rose an average 43% in Queensland, the report says bills are expected to reduce by $34 or 1.8%.

This is a drop in the bucket when you have cane producers paying thousands of dollars every year to irrigate their crops.

While news that annual increases to network charges, which is the biggest component of household bills, will be less than CPI, is positive, I don't think it will help.

Mr Bailey said that the "draft determination reinforced the importance of keeping our energy assets in public hands".

Well, if that's the case, the State Government needs to show that they are serious about bringing prices down.

And I disagree that a public inquiry is needed to determine a solution.

The solution is to reduce power prices so our residents can live and so producers make a living.