Future shock for electricity prices in SA

As the Port Augusta power station prepares to close down, the State Liberals are demanding the Weatherill Government detail how it intends to respond to rising electricity prices in South Australia.

“The latest data obtained from the Australian Stock Exchange shows the closure of the Port Augusta power station is set to drive South Australia’s electricity prices even higher,” said State Liberal Leader Steven Marshall.

“We currently endure the highest prices in the National Electricity Market (NEM) and the gap between South Australia and the rest of the NEM is set to increase significantly by 2018.

“Indeed the price of baseload electricity in New South Wales and Victoria will come down from its current levels whilst South Australia is looking at a further 20 per cent increase by March 2018.

“The Weatherill Government was repeatedly warned that the closure of the Port Augusta power stations would reduce base load supply and drive up the price of electricity.

“The surge in electricity prices are a dagger in the heart of South Australia’s struggling manufacturing industry.

“Victoria, South Australia’s closest competitor, will enjoy wholesale electricity prices less than half the price we pay by 2018.

“The massive advantage enjoyed by interstate companies in electricity intensive industries will drive jobs and investment out of South Australia and into the eastern states.”

ASX Electricity Base Load Quarterly Futures SA - 05/05
($ per megawatt hour)
 

QTR

SA

QLD

VIC

NSW

Jun-16

76

60.5

46.25

55

Sep-16

75.76

49.4

42.95

46

Dec-16

72.01

59.5

39.25

49.25

Mar-17

87.28

82.62

48.3

51.5

Jun-17

77.74

48.52

41.61

45.7

Sep-17

77.39

48.98

42.62

47.33

Dec-17

72.3

58.27

39.7

47

Mar-18

91

77.98

46.18

51.25

Jun-18

84

48.45

40.65

46.85

Sep-18

94.38

50.4

42.55

47.76

Dec-18

82.95

60.23

39.69

47.83

Mar-19

91.24

75.26

46.48

53.5

These prices are found on the following website site:

http://www.sfe.com.au/content/prices/rtp15SFBS.html