The Queensland Government has announced it will develop a five-year Energy Roadmap, with the final plan to be delivered by the end of 2025.
Speaking at the Queensland Energy Club yesterday, Treasurer and Energy Minister, David Janetzki said the Government was 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.
“Our five-year plan must ease pressure on our balance sheet, de-risk our energy future, and add significant generation capacity. It will involve the private sector and must work for our communities.”
Mr Janetzki also announced the 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 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,” he said.
“The report also revealed there was less than a 1% chance of Borumba being completed on time for its first planned power in 2030.
“QIC is uniquely placed and experienced to support Queensland Hydro to deliver a proper commercial assessment of delivery options.”
