May 10, 2021 Read More →

Renewables turn tide of costs in SA, once home of most expensive electricity in world

InDaily:

The Australian Energy Market Operator last month predicted that growth in renewable energy generation and reduction in gas use across the state would drive down tariffs and reduce future wholesale prices.

According to the energy body’s first-quarter energy dynamics report, South Australia is expected to have the lowest average wholesale prices in the country by the start of 2022, with future prices expected to continue to drop.

This is a sharp turnaround from just six months ago when SA had the second-highest future wholesale price behind New South Wales.

South Australian households and businesses have been plagued by high energy prices for several years with the state earning the tag of having the most expensive electricity in the world in 2017.

Although the rise of renewables has helped the state shrug that tag, material savings are yet to be passed on to consumers.

[Jessica Bassano]

More: Rise of SA renewables to deliver nation’s cheapest wholesale electricity

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