NSW households are expected to save $40 a year on their electricity bills thanks to a new Electricity Strategy document released last week by Energy NSW.
The Minister for Energy, Matt Kean said the Strategy would ensure reliable and affordable electricity supply, particularly in peak summer periods.
“We want to create a competitive, low-cost market that delivers resilient energy supply while putting downward pressure on electricity prices,” Mr Kean said.
“Not only does this Strategy help us achieve that, it will attract $8 billion in investment for emerging energy technologies in NSW, diversifying our energy supply and creating jobs for the future,” he said.
“The Strategy includes a new Energy Security Safeguard to drive the roll-out of energy efficiency technologies and smart appliances that use electricity when it is cheap and off-peak.”
Mr Kean said the Strategy included an Energy Security Target to ensure there was capacity in the electricity grid on the hottest days, even with the two largest generating units offline.
He said the Strategy would also include a plan to deliver Australia’s first coordinated Renewable Energy Zone in the Central-West in a bid to further reduce energy bills.
“As our existing power generators approach the end of their lives, we need to ensure low-cost alternatives are coming online which can deliver reliable electricity supply.”
“While there will always be extreme events which impact the grid’s reliability, our Electricity Security Target will mean that changes to the State’s energy mix do not come at the expense of our system’s reliability,” Mr Kean said.
