The South Australian Business Chamber Executive Director, Industry and Government Engagement, Anthony Penney said for far too long South Australian businesses had felt the direct impacts from the failure of COAG to agree on a national energy policy to reduce prices, protect reliability and assure emissions reductions.
“Since the Northern Power Station’s announced closure, electricity prices have shot to unprecedented levels and it has been energy-intensive businesses, many of them South Australian SMEs, who have ultimately paid the price,” Mr Penney said.
“The South Australian Business Chamber has provided feedback and advice to shape a robust national energy policy, including through our participation in the NEG technical working group. We implore COAG leaders to think about the consumers tomorrow as they decide on the NEG’s future.”
Mr Penney said the national electricity rules put the long-term interests of consumers first, and all governments needed to bear in mind that if they wanted businesses to remain here and invest for the long term, let alone attract new foreign businesses, it would only happen with policy frameworks that minimised their costs.
“While the NEG is not a silver bullet for reducing electricity prices, and other actions such as implementing ACCC recommendations around improved market liquidity must still occur, the NEG will bring critical confidence to the market,” he said.
“Momentum for much-needed reform began building long before the state-wide blackout and subsequent Finkel Review, driven by the loss of the Northern Power Station and the rapid price hikes which followed. The NEG is unfinished business and it needs to progress.”
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