Tom Koutsantonis MP issues ultimatum to electricity retailers in SA

·

South Australia’s Energy Minister Tom Koutsantonis MP has issued an ultimatum to electricity retailers in the state after a new report revealed a significant plunge in wholesale power prices.

According to an Australian Energy Regulator report, the average wholesale power price in SA dropped to $53 per megawatt hour, down from $80/MWh in the final quarter of 2022. The report also found more than 75 per cent of electricity generated in SA during 2023 was from renewable energy.

During the last quarter of 2023, SA’s solar contribution exceeded the state’s demand, which lead to power being exported to Victoria.

In response, Mr Koutsantonis told The Advertiser that electricity prices were “heading in the right direction, going down after the international energy crisis of 2022.”

“There can be no more excuses from retailers – they simply must pass on these savings to consumers, not simply pocket extra profits,” Mr Koutsantonis said.

“Generation and network costs are by far the biggest components of household electricity bills. Retailers must acknowledge that their costs have fallen – and pass those savings on to households and businesses.”

Source: The Advertiser.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Australian Hellenic Council seeks answers over UNESCO Greek Language Day vote

The Australian Hellenic Council (AHC) has written to Australia's Permanent Delegate to UNESCO, Ambassador Greer Alblas.

‘A disgrace’: Professor Tamis responds to Australia’s World Greek Language Day snub

The Australian Government refused last week to vote in favour of recognising 9 February as an International Day for the Greek Language.

Liberal Party supports GCM’s cultural programs with $1.6 million commitment

The Federal Liberal Party has committed to supporting Greek Community of Melbourne (GCM) projects designed to enhance the organisation.

Greek PM unveils €1 billion relief plan for pensioners and renters

Greek Prime Minister Kyriakos Mitsotakis on Tuesday, April 22, announced a €1 billion three-part economic support plan.

Ecumenical Patriarch Bartholomew mourns ‘precious brother’ Pope Francis

In a poignant tribute during the Paschal season, Ecumenical Patriarch Bartholomew mourned the passing of Pope Francis.

You May Also Like

Greek Australian recognised in Greece’s Forbes ’30 under 30′ list

Greece's Forbes magazine has released its '30 under 30' list and Greek Australian George Moulos has been recognised for his entrepreneurship.

Yarra Libraries will not end Greek Storytime after all

Greek Storytime will continue at Richmond Library following The Greek Herald’s probing into claims surrounding the closure of the program.

Anthony Koutoufides considers running for Melbourne federal seat

Former AFL star Anthony Koutoufides is reportedly considering a bid for the federal seat of Melbourne, currently held by Adam Bandt.