Queensland’s LNP government says it will reduce the price of electricity by at least $100 a year if it is re-elected.

Premier Campbell Newman said the State Government planned to remove the cost of the solar bonus scheme from electricity prices.

He said the $3.4 billion Strong Choices Cost of Living Fund would be used to ensure Queenslanders would not have to subsidise the cost of solar through their power bills.

The money came from the Government’s recently backed $37 billion leasing asset plan, which it said it would take to the next state election.

“We’re going to take the obligation of paying the 44 cents out of the electricity network businesses, bring it back to the Queensland Government, fund the obligation to pay for those people who have got the solar panels from the $3.4 billion fund, and take the burden off all electricity consumers,” he said.

“If given a mandate to act on our Strong Choices lease plan, we will have the funds available to take 6 per cent off retail electricity prices in 2015/16.”

Mr Newman said the plan would save the typical household $577 over the next five years

He said households which also had tariff 33 for hot water systems or pool filters could expect to save a further $165 during that time.

Energy Minister Mark McArdle said small businesses could save, depending on their tariff, between $600 and $1,400 over five years.

“This is putting a break on the price rises we’ve seen in the past five to seven years,” he said.

“This is a policy we’ve been working on for some time now … we know people across this state, both in their homes and businesses, wherever they are in Queensland, need relief.

“This is a long-term policy to capture a real concern and real issue for all Queenslanders, and deal with it once and for all.”