ACCC decision on joint electricity purchasing group

Member for Hammond, Adrian Pederick, has welcomed the draft determination of the Australian Competition and Consumer Commission (ACCC) regarding SACOME’s joint electricity purchasing group, which included major industry stakeholders in the Hammond Electorate.

“I submitted a letter to the ACCC in support of SACOME’s joint electricity purchasing group, as I can see the benefits it will provide the involved businesses,” said Mr Pederick.

“On a number of occasions it has been brought to my attention the prospects local businesses face as a result of excessive power prices in South Australia and the forward planning involved to factor in these increases.

“Investment within our state needs to be encouraged and with South Australia having the most expensive and unreliable power in the nation, it does the exact opposite.

“South Australian businesses are having to forecast major increases to their operating costs, whilst trying to remain competitive with interstate counterparts and markets which have the luxury of lower input costs.

“I do not want to see South Australia not considered for current or future investment as a result of its unreliability and feasibility to operate, which is why I strongly support the draft determination of the ACCC.

“The joint electricity venture has the potential to encourage new generation or underutilised generation to enter the market, which in turn will create business sustainability and future investment.

“I know the establishment of a joint buying group will benefit major businesses within Hammond and the State Liberals will continue to support other South Australian companies who wish to participate in a scheme similar to SACOME’s, in an attempt to lower their electricity costs,” said Mr Pederick.