Taken from HANSARD 12/10/06 …page 164


Hon. RE SCHWARTEN (Rockhampton - ALP) without notice: I move:
(2) That not withstanding anything contained in the standing and sessional orders, further time for debate on the bill to pass of its remaining stages is limited to two hours with:
(a) the second reading being completed within 1 hour and 30 minutes;
(b) consideration in detail being completed within 1 hour and 50 minutes;
(c) the third reading being completed within 1 hour and 55 minutes; and
(d) the long title being agreed within the 2 hour period

The bill was passed.

Mr Roberts (Member for Nudgee - ALP) said: This bill enables the restructure and sale of particular energy and gas businesses owned by Energex Pty Ltd and Ergon Energy Corporation Ltd. The impending introduction of full retail contestability and the ever-changing landscape confronting the energy industry in Queensland, convinced the government that continuing government ownership of electricity retailers provided significant risks to the taxpayers of Queensland.

What risks might they be?

On 26 April this year the government announced a number of measures to reform and restructure the electricity retail industry, and that included the sale of Sun Retail and Sungas Retail comprising the electricity and gas retail businesses of Energex Ltd, Energex’s Allgas network……
This process is now well and truly underway and the government recently announced the completion of the first component of the sale process….. for an amount of $535 million…

As the Treasurer has indicated, the sale proceeds will be deposited in the Queensland Future Growth Fund, which will be used to fund infrastructure such as dams, weirs, clean coal technology initiatives ……

It is plainly obvious why such a piece of legislation was rushed through unannounced with limited debate time (2 hours).
How many people out there know this has happened ?
Who is going to buy our electricity and gas companies … overseas interests ?
If electricity costs soar through the roof, how do we have any leverage over them ? …. one cannot VOTE overseas landlords out of government ?