Queensland aims to deliver “affordable, reliable and sustainable” energy for the state as part of an energy roadmap that prolongs coal-fired generation.
The Queensland Government said its roadmap will reduce energy system costs by $26 billion to 2035, providing a “sensible and pragmatic” plan to meet the state’s energy needs.
The roadmap involves a tender for 400MW of new gas-fired generation in central Queensland, along with a decision-making framework for state-owned coal assets.
A $400 million Queensland Energy Investment Fund is being established, along with Queensland Investment Corporation’s (QIC) new Investor Gateway, providing a platform for private investment in new energy generation and firming projects.
QIC will also be tasked with the consolidated management of future pumped hydro proposals, prioritising a consistent approach to assessment and investment.
Community level batteries will receive a $10 million investment to enable greater solar storage, while construction of the Eastern Link of the CopperString transmission line will also be prioritised.
“Our Energy Roadmap delivers what Queenslanders need, which is affordable and reliable energy that enhances their quality of life, fuels economic growth, and ensures long-term sustainability, all while ensuring our state is an attractive destination for private sector capital and creating jobs,” Treasurer and Minister for Energy David Janetzki said.
Prolonging the use of existing assets is a key priority of the roadmap, which, as Janetzki attests, goes hand-in-hand with minimising costs.
“Queensland’s coal-fired fleet is the youngest in the country and state-owned coal generators will continue to operate for as long as they are needed in the system and supported by the market,” Janetzki said.
“This is an economic solution that places downward pressure on prices for households, businesses, and industry, while ensuring developers have the confidence to plan for the future.”
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