Queensland Minister for Energy, Mark McArdle, has said that energy market reforms currently being developed will save the State’s suppliers billions of dollars.

Mr McArdle said the pace of reform to the State’s energy sector needs to be increased to ensure that competition and efficiency is fostered.

Mr McArdle said he was confident reforms currently underway would go a long way towards keeping down electricity prices, but he was concerned that some work practices, being pursued by some Unions, would hold back reform.

“Instead of protesting and running campaigns against hypothetical asset-sales policies, Unions would be better off ensuring the public could see the value of the electricity businesses and working to keeping prices down,” he said.

“The best way for Unions to show the public the value of public assets, is to get behind the efforts to achieve efficiencies and keep electricity prices down.”

Mr McArdle said major reforms currently underway seek to reduce the annual cost of the Community Service Obligation (CSO) in regional areas which has doubled in recent years.

“Reducing costs and increasing the returns from Government-owned electricity assets is the best way of keeping prices down and demonstrating value from these businesses.”