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Collaborative response needed to Finkel Review

The South Australian Chamber of Mines and Energy (SACOME) has called for a considered and collaborative response to today’s release of the Review into the Future Security of the National Electricity Market (the Finkel Review).

CEO Rebecca Knol said “The report defines the key components needed to operate an affordable and secure energy future.”  

“We need to address our current challenges in a collaborative manner, based on technology neutrality with affordability, security and reliability at the core.”

“Challenges with managing the transition in South Australia to a secure and low emissions future has resulted in volatile prices, outages and uncoordinated withdrawal of thermal generation.” 

SACOME’s submission to the Finkel Review emphasised the need for periodical regional assessments of system security, coupled with technology neutral policies governed by appropriate regulatory authorities to prevent systems failures and ensure a robust and affordable system.

“SACOME has placed a great emphasis on bringing collaborative solutions to the energy challenges in South Australia for the benefit of all users. The ACCC joint buying group is a part of this process to ensure the global competitiveness of businesses in South Australia is retained through affordable and secure electricity supply.”

Impacts of reduced system security have been widely felt by the resources and energy sectors in South Australia. Estimates place the impact in the hundreds of millions of dollars for SA businesses. For SACOME members these impacts have exceeded $200 million over the past 12 months.

Read SACOME's submission to the Finkel Review.

Find the full Finkel Review report here.

 

Media contact:  Rebecca Knol CEO SACOME, 0409 012 007

 

About SACOME:

The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.