The State Liberals have released Australian Stock Exchange data showing Base Future Contract prices for March next year are 61 per cent higher in South Australia than the national average and 165 per cent higher than those in Victoria.
Yesterday’s figures show to purchase a megawatt of electricity for March costs South Australia buyers $145, those in Victoria $54.70, Queensland $98.25, New South Wales $61.50 which produced a national average of $89.86.
“These figures confirm that the Weatherill Government’s energy policies have failed to ensure a reliable electricity supply at an affordable price,” said Shadow Minister for Energy Dan van Holst Pellekaan.
“The sky high electricity prices came on the same day the Australian Energy Market Operator (AEMO) released two reports confirming South Australia faced high prices and poor reliability due to an over reliance on wind power.
“The Weatherill Government have made South Australia the nation’s guinea pig when it comes to transitioning into renewable energy.
“The Weatherill Government’s foolish policies drove cheap base load power out of South Australia leaving the grid at the mercy of the wind and Victorian power stations.
“In an attempt to fix the problem AEMO is investigating building interconnector with New South Wales – that was promised by the Labor Government in the lead-up to the 2002 state election.
“A new interconnector to New South Wales is at least five years away meaning we desperately need more immediate relief from sky rocketing electricity prices.
“Jay Weatherill’s solution is to tax electricity and drive investment and jobs out of our state.