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The electricity industry is a vital contributor to the State’s economic growth and development. Western Australian electricity prices are already higher than other States. To keep pace, industry needs to be given a fair chance to compete. A competitive electricity industry will create an environment to deliver sustainably cheaper prices and bring growth and jobs for all Western Australians.
Independent experts have estimated that in addition to cheaper electricity, reform will deliver:
The private sector has already indicated that creating the right industry and market structure will lead to a significant investment in electricity, above and beyond the State’s own electricity assets. New generation investment includes the Emu Downs windfarm, the proposed Bluewaters Power Station in Collie and two generation units committed for construction by Alinta.
It is currently estimated that the State will need to spend about $100 million a year on generation over the coming decade. Every dollar the private sector spends on generation is a dollar that the State can spend on schools and hospitals.
There has been more than $5 billion investment in generation infrastructure in other states since reform began in 1998.
The prospect of the disaggregation of Western Power and the establishment of a wholesale electricity market is yielding benefits to contestable customers through lower prices offered by Western Power, Alinta Ltd. and other retailers and dual-fuel offers of both electricity and gas supply.
