Future shock on electricity prices

The State Liberals have released data from the Australian Energy Regulator showing surging electricity prices in South Australia in the next two years.

“All South Australians will be being paying the price of the Weatherill Government’s failed energy policies with the most expensive power in the National Electricity Market (NEM),” said Shadow Minister for Mineral Resources and Energy Dan van Holst Pellekaan.

“The jolt in electricity prices in South Australia will push future base electricity prices in South Australia 34 per cent higher than the national average and 69 per cent higher than Victoria.

“The Weatherill Government’s over-zealous rush into wind power is directly responsible for the surging price of electricity in South Australia.

“The massive increase in the number of wind turbines is driving base load electricity providers out of the market.

“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.

“Higher electricity prices in South Australia compared to the rest of the NEM is particularly bad news in the middle of our jobs crisis.

“Businesses looking to invest in new job creating opportunities in Australia shun high cost jurisdictions.

“The fact electricity prices are set to rise in the future highlights the critical need for the Weatherill Government to deliver tax relief to South Australian households and businesses.

“South Australian households and businesses have been hit by the triple whammy of massive increases to the ESL tax, the highest water prices in the nation and crippling electricity prices.

“The combined impact of these punishing imposts has dampened demand, suppressed economic activity and driven up unemployment.”