South Australians households are now just one step away from another significant fall in electricity prices with the SA-NSW Interconnector entering the final stage of the regulatory process.
South Australian households will pocket an average saving of $100 on their electricity bills if the SA-NSW Interconnector gets the green light – that will be on top of the $269 they have already saved on the average market offer since the Marshall Government came to office.
The SA-NSW Interconnector is now at the final regulatory hurdle, after both proponents ElectraNet and TransGrid lodged their final costings for the project.
Minister for Energy and Mining Dan van Holst Pellekaan welcomed the commitment by both businesses to the Interconnector.
“The Marshall Government has been underwriting work on the interconnector, with approximately $75 million for early works to get the route selected, development application lodged, towers designed and contractors secured,” said Minister van Holst Pellekaan.
“This means that with a final investment decision, construction will commence promptly to deliver the project as soon as possible to benefit consumers.
“The SA-NSW Interconnector will boost energy security, reduce electricity prices further by an estimated $100 and unlock huge renewable energy projects in South Australia. It’s a critical project to deliver the Marshall Government’s intention of net-100% renewables by 2030.”
The AER has already approved the Project through what is known as the Regulatory Investment Test for Transmission, determining that it is in the best interests of consumers.
The final regulatory step is to confirm the efficient costs for the Project, and the AER now has 40 business days to make a final determination.
“SA Labor has been all at sea on the interconnector, and this is another moment which shows they were wrong.
“First, they supported it in Government, then opposed it at the last election when it was announced as the policy of the Marshall Liberal Team. Now, after criticising it for more than three years, they’re trying to take people for mugs by said they never opposed it.
“Now, they’re saying they just don’t think it will happen – but at the same time launched a hydrogen plan that tried to claim the 10,000 jobs from the Marshall Government’s policies such as the 2019 Hydrogen Action Plan as well as the SA-NSW Interconnector – a project they didn’t think would proceed.
“The $100 saving that will flow from the SA-NSW Interconnector shows we’re delivering our strong plan which is working – the average market offer is now down $269 for households, the lights have remained on, emissions continue to reduce, and the interconnector is critical to keep up this momentum and fix Labor’s mess.”
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