Under the plan Energex and Powerlink will upgrade substations, transmission lines and feeder cables servicing the CBD and inner suburbs including Kelvin Grove, Windsor, Fortitude Valley, Spring Hill, New Farm, East Brisbane, West End and Milton.
"Over the last few years, there have been a large number of residential high rise developments in the Brisbane CBD and this development pace is expected to continue for the next few years," said Beattie.
"As all the accommodation is air conditioned, this growth is starting to place pressure on the CBD electricity grid due to the considerable electricity demand generated by these developments."
Queensland energy minister Stephen Robertson said electricity distribution companies, Energex and Ergon Energy are spending a record $1.170 billion this financial year to improve Queensland's electricity network.
"Energex is investing a total $524.1 million in 2004-05 including $391.9 million on capital works to upgrade its network.
This is a significant increase on last year's $418.7 million which included $278.6 million on capital works.
"Ergon Energy is investing a total $646.4 million in 2004-5; including $467.5 million on capital works to upgrade its network.
"This too is a significant increase on last year's $511.7 million which included $337.4 million on capital works," he said.