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Annastacia Palaszczuk's $1.16b energy package


Source: Financial Review

The Queensland government will conduct a reverse auction of 400 megawatts of clean energy and create a new state-owned company to drive renewable power in a bid to meet its 50 per cent renewable energy target by 2030.

After announcing on Sunday it would return its Swanbank E gas power station to help with the east coast gas crisis, Queensland Premier Annastacia Palaszczuk announced a $1.16 billion energy package to drive the uptake of renewables as well as ensure a reliable supply of electricity.

The Labor government will also release another 395 square kilometres of land for gas development to help with the looming east coast gas shortage, which is due to hit later this year.

The "Powering Queensland Plan" also includes the previously announced decision to spend $770 million over the next three years to cover for the costs of the generous solar feed-in tariff being passed on to non-solar households as well as $386 million to help establish a clean energy hub in North Queensland.

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