CR Foundry keeps power costs down, protects business

CR Foundry

CR Foundry, a steel and iron manufacturer based in Maryborough, is one of 1,000 manufacturers, businesses and farmers in regional Queensland to benefit from transitional electricity rebates over a period of up to nine years. 

Keeping power costs down through the Electricity Tariff Adjustment Scheme has enabled CR Foundry to maintain the business, provide job security for workers and flourish in new markets. 

Recently the foundry also recruited new apprentices, creating the next generation of skilled manufacturers. 

The Tariff was introduced by the Queensland government in July to ease businesses’ financial pressures, allowing them to adapt. 

“To ensure Queensland’s economic recovery powers ahead, we’ve used the 2021-22 state budget to enable automatic provision of these rebates from July 1, with $29.4 million allocated in the next four years alone,” Queensland Energy minister Mick de Brenni said. 

“This means that a small number of Queensland businesses, whose annual power bills are heavily impacted from switching from old obsolete electricity tariffs to standard tariffs, are having rebates applied to their bills while they adapt.” 

This is aimed at protecting regional manufacturing in the state, as well as agriculture, businesses and jobs. 

CR Foundry’s executive general manager Phil Sellers thanked the Queensland government, Energy Queensland and member for Maryborough Bruce Saunders for their support during the process. 

“Our Maryborough foundry has over 100 years of history in the Wide Bay region, and the Electricity Tariff Adjustment Scheme will help cement its future for our company, our employees and the wider community,” Sellers said. 

Businesses like CR Foundry are at the heart of the Maryborough economy, Saunders said. 

“This is going to keep the foundry’s electricity prices reasonable, keep those jobs and help them modernise and expand,” Saunders said. 

“It is because we own our electricity system in Queensland and the strong advocacy of the AMWU that we have this great outcome.” 

Regional businesses like CR Foundry will form the manufacturing base needed as Queensland expands its economy in traditional industries like agriculture and resources, and new industries such as renewables and hydrogen. 

“Our regions are the backbone of our economy, they support thousands of jobs and fair power prices are vital to their prosperity,” de Brenni said. 

For more information on the Electricity Tariff Adjustment Scheme, visit www.qld.gov.au/transition-rebate.