The State Liberals have welcomed the decision by the Australian Competition Tribunal to knock back an attempt by SA Power Networks to increase its revenue over the next five years by $250 million.
“Unfortunately the modest estimated savings of $60 a year won’t be noticed on household electricity bills due to sharply rising generation costs,” said Shadow minister for Energy Dan van Holst Pellekaan.
“Just this week Australian Bureau of Statistics data showed the price of electricity in South Australia has risen by almost 12 per cent over the past 12 months.
“While the electricity regulator is doing its job properly to protect consumers from unwarranted increases in distribution costs, what is really hurting consumers is the increase in generations costs which are a direct result of the Weatherill Government’s failed energy policy.
“Average spot prices for electricity have gone up 105% since the Weatherill Government allowed the Port Augusta power station close in May.
“That is a staggering doubling of the spot price in just five months!
“We now know the Weatherill Government had the opportunity to protect South Australians from this increase but chose not to.
“The Labor Government’s claim that the privatisation of the electricity industry is responsible for South Australia’s high prices is untrue.
Both South Australia and Victoria have privatised electricity markets, Victoria has the cheapest power and we have the most expensive power in Australia.
“It is government policy, not privatisation that makes the difference.
“Unfortunately we have both the highest electricity prices and the highest unemployment in the nation – it is no accident they go hand in hand and they are both due to a bad Government.