Electrical Trades Union calls for Palaszczuk government to review national electricity market

The Electrical Trades Union has called on the Palaszczuk government to review the national electricity market and boost funding for renewable energy projects.

A powerful Queensland union has demanded the Palaszczuk government call for a review into the national electricity market amid lingering threats of blackouts and soaring power prices.

Ten years of federal government neglect had led to the current crisis, according to the Electrical Trades Union, declaring it would advise the state to pull out of the national market if requests for a review were ignored.

State secretary Peter Ong said the eastern states’ energy calamity was caused by incohesive energy policy and privatisation.

He also demanded the Queensland government boost funding in next week’s state budget to accelerate renewable energy projects.

“These warnings of blackouts and supply shortages are symptomatic of private energy companies gaming a system that has for years had plenty of acronyms and boards but very little actual regulation,” he said.

Energy Minister Mick de Brenni is under pressure to call for a review into the national electricity market. Picture: Dan Peled

“For the past two nights, while Queensland’s state-owned electricity generators were working at full speed to generate electricity, we had the disgusting situation where following market intervention from Australian Energy Market Operator to put a cap on power prices, private-owned electricity generators actively withheld supply, putting lives and businesses at risk.”

The union’s state secretary said the failings of the grid had led to Queenslanders being asked to regulate their power usage while multinational companies maximised profits.

He said the gas and coal supply shortfall was indicative of the “complete failure” of the regulatory framework and its ability to manage supply and prices.

“Australia is one of the world’s leading coal and gas producers, yet we have the absurd situation where we are held to ransom by multinational, tax avoiding, gas companies who export massive amounts of gas at exorbitant prices while withholding supply to maximise profit in eastern Australia,” Mr Ong said.

The ETU urged Queensland Energy Minister Mick de Brenni to demand an “immediate review of Australia’s broken National Electricity Market”.

“Secondly, we call on the state government to use the upcoming budget and energy plan to accelerate construction of public-owned renewable generation and storage assets,” Mr Ong said.

Mr de Brenni said the rules of the electricity market were working effectively to ensure supply.

“However ministers have agreed the market dynamics are concerning, especially on wholesale prices, which is why we asked the Australian Energy Regulator to provide advice on options,” he said.

In response to the call to accelerate renewable construction projects, the Energy Minister said the “Queensland Energy Plan will outline our pathway to achieving Queensland’s renewable energy target and to create more jobs in more industries”.

Originally published as Electrical Trades Union calls for Palaszczuk government to review national electricity market