Queensland's opposition leader David Crisafulli has vowed not to proceed with the Pioneer-Burdekin Pumped Hydro Project if the Liberal National Party wins the October election.
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Mr Crisafulli said in its place, his government would embark on a long-term plan to provide alternative storage options to the "unachievable project" and would not support the world's biggest pumped hydro project, set for the rainforest and ecologically diverse town of Eungella.
In his budget in reply speech on Thursday, the opposition leader said his team had developed an alternative path for the state that focused on the priorities of Queenslanders.
"The [Labor] government does not have a credible plan. They have a multi-billion-dollar fantasy, based on the Pioneer-Burdekin Pumped Hydro Project, a project energy experts and environmentalists believe just won't happen," he said.
"Massive cost blowouts on this project will unavoidably drive up the price of power in Queensland. [The project] is reported to already cost around $20 billion yet the government can't even be honest with this.
"This is a project without direct funding, no approvals and no social licence from the local community.
"There's a difference between responsibly supporting budget supply and honouring underway fully funded programs and backing exorbitant thought bubbles."
Mr Crisafulli said his government would investigate opportunities for smaller, more manageable pumped-hydro projects and bring in new laws to ensure all projects are treated equally.
"No special treatment will be given in relation to planning and environmental approvals," he said.
"The process will start with a thorough examination for the costings and planning for the government's pumped-hydro projects at Borumba during Estimates.
"Whether it's a farming project, a residential project or a renewable project, the same standards must apply.
"The Pioneer-Burdekin project is not feasible, it will never be built and the government knows it. This is why there is a $1bn equity investment in the company but no actual capital investment in the project...[and] no backing from the federal government."
Mr Crisafulli said in response to ALP treasurer Cameron Dick's claims that the project would be fully funded under Labor, that the current sitting government "must explain ahead of the election what it will cut to fill its $20bn hydro hole".
"The LNP will deliver a solution which will make energy affordable, reliable and sustainable," he said.
On June 12, Mr Dick said the Labor government was forging ahead with plans to de-carbonise the economy with two pumped hydro energy storage projects, Borumba and Pioneer-Burdekin.
"This budget delivers $936 million to progress the Borumba Pumped Hydro energy storage scheme and this budget delivers $38.5m for early works at the Pioneer-Burdekin.That $38.5m comes from a $1bn equity commitment across the forward estimates," he said.
"That $1bn investment in the Pioneer-Burdekin Pumped Hydro storage scheme is fully detailed in the budget papers, fully funded and fully supported. I repeat: it is fully supported in the budget papers.
"The federal LNP have made their obsession with nuclear energy plain for all Australians to see. In a deliberate act to burn their bridges, Queensland LNP's David Littleproud has said the party would walk away from any support for Borumba Pumped Hydro, a project that is already underway.
"The Queensland LNP has already made clear it will not support the Pioneer-Burdekin Pumped Hydro scheme. Together with Peter Dutton's decision to walk away from the Paris Climate Agreement targets, this means the Queensland LNP is trashing our state's clean energy future."
Mr Dick condemned LNP's decision and said it would cost tens of thousands of jobs and thousands of regional businesses that "would benefit from Queensland's renewable energy future".
"The Queensland LNP is ensuring that on the way to building nuclear reactors up and down the coast, we would have to squeeze decades more life out of ageing coal-fired power stations," he said.
