Local bayside businesses spoke first hand with the Minister for Energy Angus Taylor and Federal MP for Bonner Ross Vasta today about the coalition’s recently introduced energy policy.

Minister for Energy Angus Taylor said for too long people have been paying through the nose for their electricity, so the Government is taking strong action to lower power prices while keeping the lights on.

“Our four point plan will include creating a price safety net and scrapping the loyalty tax. This means customers who haven’t had a chance to negotiate a better price will get a fairer default price, plus greater transparency and clarity,” Minister Taylor said.

Curtis and Lisa from Flex Fitness in Wynnum said as a busy small business they often don’t have time to negotiate with power companies and this policy would help them save precious dollars on their quarterly bills.

“We pay roughly $2000 a quarter at the moment but as the weather heats up we will need to use the air-conditioners more and more so we welcome any support to try and bring the price of our bills down.”

“We’re so lucky to be able to run our own business and do what we enjoy and we want to make sure we can keep doing it for many years to come so we need to keep our costs low,” Curtis said.

Mr Vasta agreed and thanked the Minister for meeting with locals and business owners of Bonner.

“The coalition is looking out for the people of Bonner. We’re taking a big stick to the power companies and it’s only under our plan for affordable reliable energy that local families and small businesses will benefit from big savings.”

“Our policy will take the pressure off families and small businesses and put customers back in charge by cracking down on dodgy practices, supporting investment in new generation and guaranteeing reliable supply,” Mr Vasta said.

The Morrison Government will:

• Stop the price gouging by the big energy companies by banning sneaky late payment penalties, requiring them to pass on savings in wholesale prices to customers, strengthening the regulator’s power to crack down on dodgy, anti-competitive practices, and shining a spotlight on energy companies’ rorting through ‘gold plating’ their networks. We will take a big stick to the big energy companies to stop the big rip offs.

• Create a price safety net to protect customers and remove the loyalty tax on those who have stayed with their energy company or don’t have time to shop around for a better deal. A fairer default price will give customers transparency and clarity, providing relief from confusing and often more expensive standing offers. Median standing offers in South East Queensland can be up to $369 per year more expensive than the cheapest market offer for households, and up to $2152 per year more for small businesses.

• Back investment in reliable generation which will improve competition, lower prices and guarantee reliable supply. We know that renewables are only cheap when the sun is shining and the wind is blowing. The Government will support projects that reduce wholesale electricity prices, support the reliability of the grid and increase competition.

• Support reliable power by requiring energy companies to sign contracts guaranteeing enough energy to meet demand. This will prevent blackouts and stop their disastrous impact on local economies in Bonner.

In contrast, Labor plans on introducing a 50% Renewable Energy Target and 45% Emissions Reduction Target. This reckless policy will damage the local economy and be paid for by every energy user in the country.