Opposition Leader Tim Nicholls says he will save Queenslanders more than three times the amount Premier Annastacia Palaszczuk has promised on power bills if elected on November 25.
The LNP leader on Sunday announced his plan to cut bills by an average of $160 a year for the next two years, a significant jump on the $50 rebate announced by the state Labor government last month.
The LNP's policy proposes splitting the two state-owned power generators, Stanwell and CS Energy, into three entities to create more competition while maintaining their 60 per cent market share.
"We are also going to write off $2 billion from the regulated asset base of Energy Queensland, and that will mean that the network charges will also come down," Mr Nicholls said.
"Together those two savings will generate $160 worth of savings on next year's power bills for an average family using average consumption."
Under the plan, initial savings of $160 a year for two years would potentially rise to an average of between $300 a year to $460 a year in 2020.
An LNP government would also scrap Premier Annastacia Palaszczuk's 50 per cent by 2030 renewable energy target, build a coal fired power station in Queensland's north and support the federal government's national energy guarantee.
But Ms Palaszczuk said Mr Nicholls could not be trusted to keep his word after promising to reduce prices when the LNP were last in government only to slap households with more expensive bills.
"He promised when he was going for office that he would reduce household bills," she said.
"Not only did he raise household bills by 43 per cent, he had a plan to sell the power assets in this state."
Mr Nicholls has promised not to sell Queensland's assets, a measure he proposed while treasurer under Campbell Newman, and which Labor says is central to its solution.
Household power prices have shaped up as a hot election topic, particularly in the regions where households are struggling amid a lack of jobs.
Last month, all electricity retailers except Sanctuary Energy and People Energy, which represent less than 0.1 per cent of the state's retail electricity market, agreed to the government's pledge to pass on all the savings outlined in a report by economic consultants Acil Allen.
The report found price hikes will be $146 less this financial year and $210 less next year because of measures implemented by the Palaszczuk government.
The pledge also calls for retailers to pass on a further $50 in savings under a two-year rebate, with regional consumers and businesses to get more.
