Queensland property owners will be able to enjoy cheaper power in the coming months after the government announced that changes will be made to save electricity suppliers $2 billion in the near future.
These savings will be passed on to customers, which could be great news for the owners of Bulimba real estate. Energy Minister Mark McArdle said the changes will help provide greater flexibility for future electricity infrastructure, allowing for downward pressure to be placed on electricity costs.
After establishing the Interdepartmental Committee on Electricity Sector Reform to look into cutting electricity costs, the state government began investigating ways to help reduce the cost of electricity – with much of it coming form reducing the future costs of infrastructure development.
"These changes strike the right balance between protecting the needs of Queensland consumers and putting downward pressure on future electricity prices," said Mr McArdle in an April 16 statement.
"To put downward pressure on future electricity prices, we need to learn from the past and do things differently."
The new standards will begin on July 1 2014 and aim are expected to help save residents across the state money from their own electricity bills.