Home topics news News News Split assets to cut Qld power bills: ACCC AAP July 12, 2018 Australia’s competition watchdog says the Queensland government should split its power generators and sell off some of the assets to cut down power prices. But the state’s Labor government says it is already doing enough to slash charges for businesses and households, claiming breaking up its assets would increase electricity bills. A report from the Australian Competition and Consumer Commission recommends a major overhaul to the national electricity sector to bring down bills and restore consumer confidence. It singled out the Queensland government, which owns two power generators. “The Queensland government should divide its generation assets into three generation portfolios to reduce market concentration,” the report says. “Once created, the Queensland government should ensure that the three portfolios are separately owned and operated to maximise competition in the wholesale electricity market.” State Energy Minister Anthony Lynham dismissed the idea, saying public asset ownership had driven down costs. “Selling assets hasn’t worked in New South Wales and Queensland continues to prop up the National Energy Market,” he said. “And because we own the assets, we’ve been able to direct prices to be lower.” In Brisbane on Wednesday, Prime Minister Malcolm Turnbull said introducing more competition to the energy market was key to cheaper power, with or without privatisation. “State government ownership is not necessary, it’s a matter for the state government to determine,” he told the Queensland Media Club. “But the critical thing is