The move by South Australia will make it a target for the supply of low carbon energy for business throughout Australia.
South Australian Greens Senator Sarah Hanson-Young said Port Augusta residents and people all over the state will be devastated after state government “backed the wrong horse”.
ACCC Chairman Rod Sims said events following the ACCC’s April 2016 Inquiry into the east coast gas market have confirmed the Commission’s worst fears.
A lack of policy certainty, the government’s ” ideological war” on renewable energy and ensuring legislation encouraged local gas supply were the key issues, Mr Shorten said.
“Reform of the outdated energy market will be important to unlock the massive private sector investment opportunity in renewable energy and energy storage in South Australia”, Mr Thornton said.
However, the Property Council is less convinced, raising a warning about the flow-on impact of the big Government spend on other infrastructure projects.
Koutsantonis said Tuesday that the plan puts control of the energy system back in the hands of South Australian residents. “But I stress, we will not shirk from any measures that would be required – if all else fails – to protect Australian businesses, jobs and families”, he said. That will be more heavily shaped by decisions in other States and at the national level.
“These three projects also saw gas resources developed that otherwise would not have been”.
Local member Eddie Hughes has welcomed the state government’s $550 million energy package. But how much can the state’s taxpayers expect to fork out in the quest to bring down their household electricity bills? The Australian Energy Market Operator now holds this authority.
The announcement comes just four days after Tesla Inc boss Elon Musk offered to save the state from blackouts by installing $25 million worth of battery storage.
The facility would be built before next summer, Weatherill said.
Turnbull said the undertakings meant there wouldn’t be a repeat of a situation where the regulator called on a gas-peaking power plant for electricity in a heatwave, and there was no gas available.
Power company AGL doesn’t appear concerned, calling SA’s proposal a “considered and comprehensive approach” to challenges in the market.
The aim is to modernise the state’s grids and help support the increasing penetration of renewable energy capacity.
South Australian Premier Jay Weatherill yesterday announced a $150 million renewable technology fund which he said would pay for the construction of a 100 megawatt battery storage facility.
Instead of a generator dependent on expensive gas, which risks being a white elephant like the South Australian and Victorian desalination plants. “Building Australia’s largest grid-scale battery will help build our reputation for high-tech industries”.