Federal Member for Grey Rowan Ramsey said the announcement that four energy projects in South Australia have been shortlisted under the Federal Government’s Underwriting New Generation Investments program is an exciting insight to the potential of energy investment in Grey. “I am pleased to see all four South Australian projects shortlisted are in Grey,” Mr Ramsey said. “For many years I have maintained investment in renewables must be accompanied by investment in energy storage and this electorate offers a great opportunity for these types of projects. “The Federal Government’s continued commitment to delivering affordable and reliable power has seen the establishment of this program with the objective of reducing wholesale electricity prices by increasing competition and supply which has opened the door for the potential investment.
“By encouraging investment we can assist commercial and industrial customer’s access affordable energy supply arrangements and improve reliability by increasing the level of firm and firmed capacity in the system.
“The Government is looking at underwriting provisions that can assist in these projects gathering finance.”
The Government received a strong response to the Underwriting New Generation Investment program’s Registration of Interest process, with 66 proposals submitted across a range of generation types and states in the National Electricity Market. Mr Ramsey said the Government carefully considered the 66 proposals against the program’s guidelines and agreed to a shortlist of 12 projects – six renewable pumped hydro projects, five gas projects and one coal upgrade project. “As recommended by the ACCC, the selection process has been technology neutral, with projects selected for the shortlist representing a range of fuel types,” Mr Ramsey said.“The project was thrown open to all proponents bar the big players – AGL, EnergyAustralia and Origin. “The projects deliver a balance which includes renewable, affordable and reliable power for families and businesses and ensure we meet our 2030 targets. As an objective of the Underwriting New Generations Investment program, the Government will be targeting a 25 to 30 per cent reduction in wholesale prices in each NEM region by 2021.” The shortlist comprises: Alinta Energy Reeves Plains – GasSIMEC Zen Energy Eyre Peninsula HydroRise Renewables Baroota Renewable Pumped HydroSunset Power Delta Electricity Lincoln Gap Renewable Pumped Hydro Further information can be found at www.energy.gov.au
Media Contact: Leonie Lloyd-Smith 8633 1744
March 27 2019