March 5, 2013

EnergyAustralia Managing Director, Richard McIndoe today welcomed the Queensland Government Commission of Audit recommendation to privatise those businesses in the energy industry capable of being owned and managed more efficiently by the private sector.

Mr McIndoe said he understood the Queensland Government’s commitment not to privatise state assets without seeking a public mandate, but he noted that privatisation had delivered significant benefits to customers in Victoria and South Australia.
The Commission of Audit was chaired by former Federal Treasurer Peter Costello, with the Public Service Commission Chairman, Doug McTaggart, and James Cook University Vice-Chancellor, Sandra Harding.
“The recommendations released today have obviously been carefully considered and provide a commonsense path forward to relieve the State Budget of the challenges of financing capital intensive assets,” Mr McIndoe said.
“We know from experience in South Australia and Victoria, that privatisation of the energy industry in Queensland will deliver greater efficiency and innovation, with householders the ultimate beneficiaries.
“At EnergyAustralia, we want to partner with our customers to deliver energy solutions that help people manage their energy consumption and keep bills down. A privatised industry in Queensland will help us deliver more innovative energy solutions to customers.”
Mr McIndoe said EnergyAustralia would welcome the opportunity to be more involved in Queensland’s power sector, which is currently dominated by just two large private sector retailers.
“Governments have a crucial role in setting policy around the energy sector, but we believe that this can be at odds with the roles of retailer and asset owner,” Mr McIndoe said.
“Privatising energy in Queensland makes sense for Queensland customers and the Queensland Government.”
EnergyAustralia services the energy needs of more than 2.7 million residential and business customers across Australia.