Energy security target
- Project Released: 19 May 2017
- Project Closes: 31 Dec 2019
- Contact: Natasha Cheshire
The South Australian Government has developed a consultation package on the legal framework which establishes the Energy Security Target, as set out in the draft Electricity (General) (Electricity Security Target) Variation Regulations 2017.
Current status is Initiate
Commencing the energy security target has been delayed until 1 January 2020.
Since announcing the energy security target in March 2017, a number of significant changes have occurred in the energy market that are delivering system security outcomes in South Australia. These include changes in the National Electricity Market, such as the Australian Energy Market Operator's requirement to have at least three synchronous generators operating in South Australia at all times, and announcements by private generators that will boost synchronous generation capacity in the State.
Modelling from Frontier Economics also indicates that a more competitive energy market needs to be operating to lower power prices. By deferring the introduction of the energy security target to 2020, it will be more effective at putting downward pressure on power prices.
Further information on the Energy Security Target can be found on the State Development website.