Copperstring hit back at APA '40 year electricity tax' claims

Copperstring say their project will save major electricity users in the North West Minerals Province at least 40% of their delivered electricity costs, increase critical mineral production, facilitate new renewable energy generation and sustain an extra 3500 jobs.

The analysis was provided to Queensland Government's Consultation Regulatory Impact Statement on future electricity supply for the North West as part of Copperstring 2.0's submission.

A day earlier rival APA which owns the Diamantina Power Station and has plans for a Mount Isa solar farm, put in its submission to the options paper saying that if CopperString 2.0 was approved "it would create a 40-year electricity tax on mums and dads and then leave a $1 billion taxpayer debt behind while providing no material reduction in energy costs for the region."

The paper assumes a NWMP electricity price in the NWPS of $140/MWh whereas large customers in the NEM typically incur electricity costs of $74-93/MWh.

CuString Managing Director Joseph O'Brien said only CopperString and its connection to NEM could deliver the economic boost for North Queensland.

Keeping an isolated and unreliable system is not how you build a regional economy, increase jobs and reduce emissions across the North." Mr O'Brien said.

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"Industry submissions to the Queensland Government shared with CopperString confirm many miners in the North West Minerals Province pay far more than $140 per MWh - some up to $200 per MWh - and some are losing over 100,000 tonnes of ore each year because of power outages."

Townsville Enterprise Limited, the peak economic development body for Townsville and North Queensland said in their 2022 Pre federal budget submission that CopperString's backbone common use infrastructure would benefit one of Australia's most strategically important regions rich in critical minerals, rare earth elements, some of the nation's highest quality renewable energy resources, nationally significant water and agricultural resources, and strategic activities including defence assets.

Queensland government's consultation on electricity supply options for the North West Minerals Province which canvassed views on three options, business as usual, the private proposal to build CopperString 2.0, and building the project through the government's own Powerlink.

Mr O'Brien said the electricity supply to the North West Minerals Province, isolated from the NEM, has experienced two catastrophic outages in the past year, costing industry millions of dollars and causing disruption to local communities.

"The consultation process undertaken by the Queensland Government has enabled all of Northern Queensland to have their say on just how important access to the NEM is for Townsville and the entire region across to the North West Minerals Province," he said.

"This important economic reform of extending the national transmission grid across Northern Queensland is clearly important to the community and businesses in the region, by the State's own analysis CopperString will reduce prices in the North West by at least 40%.

"These isolated power costs are damaging our global competitiveness and Queensland's ability to supercharge its economy in the North."

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