Legislation to create CleanCo Queensland (CleanCo) was introduced to parliament today, with the company expected to be fully operating with its own generation assets by the end of the year.
As Queensland’s third, publicly-owned generator, CleanCo will help to increase electricity supply and put downward pressure on electricity prices.
CleanCo’s foundation generation assets will be transferred from the other two publicly-owned energy Government owned corporations, including Wivenhoe Power Station from CS Energy, and Stanwell Corporation’s Swanbank E gas-fired power station and Barron Gorge, Kareeya and Koombooloomba hydro power stations.
Today’s bill, when passed, will ensure:
- new CleanCo employees and people transferring from the other government-owned generators will have the same protections as other government-owned corporation employees
- CleanCo can be designated as a ‘State electricity entity’ subject to government directions.