Survey results released today by the South Australian Business Chamber have found a staggering 78.5 per cent of South Australian businesses believe the Federal Government has not adequately planned for Australia’s transition to renewable energy, with the State Government not far behind at 67 per cent.
To better understand energy costs and possibilities for South Australian businesses, the South Australian Business Chamber, South Australia’s Chamber of Commerce and Industry explored this matter as part of its December quarter Survey of Business Expectations, conducted in partnership with William Buck.
Andrew Kay, CEO of the South Australian Business Chamber said the business community is concerned about the impact of the transition on supply and prices.
“In June 2022 a cold snap across south-eastern Australia contributed to less renewable energy – wind and solar – being generated than expected. Further, outages of coal-powered generators and wet coal, plus increased demand from gas generators, meant the Australian Energy Market Operator could not ensure a reliable electricity supply.
“For a few days, there was a risk of load-shedding, or rolling blackouts, being required across South Australia.
“These occurrences, although rare, contributed to a decline in business confidence in the government’s ability to manage the energy transition.
“We look forward to sharing this information with governments so we can constructively contribute on behalf of our members in the reduction of energy prices and improve the ongoing transition to renewable energy across South Australia”.
Adding to issues of confidence in Australia’s energy market, businesses are continuing to be financially burdened by rising electricity costs.
Kendall Crowe, General Manager of Policy, Advocacy and International Services at the South Australian Business Chamber said “energy prices have been front of mind for business operators for some time.
“Respondents to our June 2022 survey indicated that electricity prices were the second top issue keeping them awake at night”.
Results from the December quarter survey found 81 per cent of South Australian businesses had electricity cost increases of up to 29 per cent in the last 12 months.
Similarly, 74 per cent of businesses using gas experienced price increases of up to 29 per cent.
Survey results also indicated businesses are being proactive in improving energy efficiency with 42.6 per cent of respondents having assets installed to produce or store energy, and almost 60 per cent seeking to improve efficiencies through their own research or the use of a consultant.
The full findings of the South Australian Business Chamber, William Buck Survey of Business Expectations can be downloaded at business-sa.com/businessnow
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