The Queensland Government has unveiled its latest move on electricity prices in a bid to drive down household costs.

Energy Minister Mark McArdle says $580 million in savings could be made over seven years if retailers Ergon and Energex are brought under a single holding company.

The merger proposal is subject to consultation with employees and is set to start in the south-east before going state-wide.

Uniform electricity prices are also set to end, with the aim of creating greater competition.

However, Mr McArdle says there is no quick fix for households facing a 22.6 per cent price hike next month.

"What we want to do in the south-east corner is look at, by 1 July 2015, price monitoring," he said.

"We are going to open up the south-east corner to retail competition.

"Overarching to that is a necessity to provide protection to consumers by way of legislation."

He declined to say whether the changes would guarantee power price cuts for householders or ensure no brown outs.

Mr McArdle said the State Government is seeking feedback from workers set to be affected by the merger of Energex and Ergon.

"If it goes ahead, Ergon and Energex will still be separate entities, but as opposed to having two boards they'll run under one board," he said.

"We'll collapse the two boards into the one board and we'll then have a reduction in director numbers and we'll also have one CEO and other senior officers as well."

Opposition Leader Annastacia Palaszczuk says she is concerned Ergon and Energex are being set up to be privatised.

"We haven't seen any detail and the other concern is, does this fly in the face of competition policy," he said.

"They have just released a budget - this was not discussed before the budget.

"It appears to me the Newman Government is making this up as they go along. They promised to lower electricity prices and it simply has not happened."