The report by the council found that in Queensland, rooftop solar and large-scale renewable projects brought down average wholesale power prices by $117 per megawatt hour in 2023.
Ms Silcock said this would have slashed average household power bills in Queensland by $400 in 2023, had those savings been fully passed down by retailers.
However, she said there were several reasons why those savings were not passed down to consumers.
One was due to the extremely high price volatility in the market, she said, due in part to aging, unreliable coal-fired power stations and inflated global coal and gas prices.
Ms Silcock said retailers had to absorb the risk of "high price events", such as repeated breakdowns at the Callide C coal plant near Biloela, which caused prices to skyrocket.
