QLD govt to reset energy targets with five-year plan
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The news: The Queensland Liberal National government has unveiled a five-year plan for the state that will prioritise support for coal plants, investing in new gas power and selected hydro projects, which is set to weigh on the state’s emission reduction plans.
The numbers: The Queensland government said $400 million has already been poured into the maintenance of the government owned generators, including the Tarong Power Station and upgrades of the Callide B1 and B2 units.
The government will invest $50 million into the Mt Rawdon Pumped Hydro project via CleanCo, and has approved $134 million funding for CS Energy to develop the 400-megawatt Brigalow Gas Peaker Project at Kogan Creek. CleanCo and Stanwell will also progress two new gas-fired generation projects.
The context: Speaking at the Queensland Energy Club, State Treasurer and Energy Minister David Janetzki, said the government is committed to delivering affordable, reliable and sustainable energy to Queenslanders.
“We’re taking an approach based on economics and engineering, not ideology,” Minister Janetzki said.
Janetski blamed the Labor government for neglecting Queensland’s energy landscape, and has ordered a review into the state’s greenhouse gas reduction targets. In his address, Janetski said the Queensland Productivity Commission had been tasked with reviewing three emission reduction targets, which were legislated by parliament last year.
While the Crisafulli government supports Queensland's net zero target by 2050 target, it has been less clear on its commitment to the targets of 30% by 2030 and 75% by 2035. Janetski said that the state’s emission reduction plans will be released by the end of 2025.
Janetski also announced that the Crisafulli government would transfer oversight of Queensland Hydro, the entity charged with delivering the Borumba pumped hydro project, to Queensland Investment Corporation (QIC).
“We’ve made this decision following revelations from Queensland Hydro in December that the cost to deliver Borumba had blown out by $4 billion to a total of $18 billion and would take an additional three years to complete,” Janetzki said. He added that there was less than one per cent chance that Borumba would be completed in time for its first planned power in 2030.
The sources: Queensland Government, ABC
