$26 billion renewables investment backs regional jobs

The Miles Government is securing the future of thousands of jobs in regional Queensland with a supercharged investment in the Queensland Energy and Jobs Plan.

The $26 billion investment in renewable energy over the next four years will mean Queenslanders can cash in on an estimated $430 billion boon, and 145,000 jobs by 2050.

Modelling by Deloitte forecasts investment in regional Queensland will spike $218 billion, attracting more than 85% of the new jobs, if the state reaches its 75% emissions reduction target by 2035.

The funding outlined in today’s Budget will deliver on continuing the transformation of Queensland’s energy sector and powering more jobs across the Sunshine State.

This additional investment will allow publicly owned energy businesses to invest in new wind, solar, storage, and transmission infrastructure.

Additionally, the investment means the protection of thousands of jobs in construction, manufacturing and operations across all sectors of the economy, with a focus on regional communities.

This commitment is part of a broader capital program across our state’s owned energy entities to ensure the Sunshine State takes full advantage of the renewable revolution, and the jobs and economic opportunities it presents for the regions.

In 2024-25 alone, the total capital investment is $8.686 billion.

Because of public ownership of our energy system, which is now enshrined in legislation through the landmark Energy (Renewable Transformation and Jobs) Act 2024, we can ensure all Queenslanders benefit from the investment needed to decarbonise our energy system and deliver our renewable energy targets.

In addition to public ownership, the Miles Government has locked in job security for every worker in our publicly owned power stations through the world-first Job Security Guarantee. The $150 million Jobs Fund and Guarantee – the first ever of its kind- ensures workers will always have a job in the energy system as it transforms.

"Queensland is acting on climate change with plans to decarbonise while also developing the industries of the future. We’re bringing our communities along for the journey, with a package of support, training and jobs within the Job Security Guarantee" - Premier Steven Miles

In 2024-25, Powerlink will invest $109.4 million to accelerate the state’s SuperGrid, for early works on Central Queensland transmission works and connection of the Borumba Pumped Hydro Energy Storage, and a further $712 million to continue delivery of CopperString 2032.

Energy Queensland’s investing $2.683 billion in its 2024-2025 capital program.

In 2024-25, Queensland’s three publicly owned generators are together investing around $376?million for upgrades and maintenance at existing state-owned power stations, ensuing the continued reliability of supply to Queensland and National Electricity Market.

This commitment is on top of transformative new energy investments by Stanwell, CS?Energy, and CleanCo in 2024-25.

Further, Queensland Hydro will be continuing to progress works on the Borumba and Pioneer-Burdekin Pumped Hydro Energy Storage projects near Gympie and Mackay, respectively.

We’re delivering the transformation of our energy system and our economy for a net zero future" - Deputy Premier Cameron Dick

The Miles Government is committed to the clean energy transition and the economic and job opportunities it will deliver, all of which is at risk under an LNP Government.

David Crisafulli and the LNP refused to back renewable energy targets and the Job Security Guarantee, putting the future livelihoods of thousands of regional workers in jeopardy.

Deloitte Access Economics modelling identified that that Queensland stands to lose out on 87,000 jobs by 2035 if the state fails to meet its 75% emissions reduction target, which can only be achieved through renewable energy.

By 2050 Queensland would miss out on 145,000 more jobs and $430 billion in economic opportunity under an LNP Government.

Thanks to public ownership of energy assets, paired with Queensland’s progressive coal royalties, every Queensland household will receive a minimum electricity rebate of $1,000.

Vulnerable households will receive a further $372 through the Queensland Electricity Rebate, while the Albanese Labor Government is supporting households with a further $300 to all households.

That means all Queensland households will benefit from a minimum of $1,300 off their electricity bill this financial year, while vulnerable households, including seniors, pensioners and concession card households, will receive a total of $1,672 off their electricity bill.

It’s the intention of the Miles Government that that average Queensland households will not pay an electricity bill for the remainder of this calendar year.

It’s just one of the many ways the Miles Government is supporting Queenslanders, and helping households to make ends meet.