Nick Xenophon’s SA Best party has unveiled an energy policy plan to cut South Australia’s power prices by up to 20 per cent by setting up a community electricity co-op.
Unveiled on Tuesday, ahead of the March 17 state election, the plan is to use a co-operative model of community electricity trusts to give power back to the South Australian people.
To be named the Community Electricity Trust of SA (cETSA), the co-operative retailer would be made up of 50,000 lower-income households and up to 5000 small businesses.
Power prices for member households and companies would would be reduced by 20 per cent, the party said, while the retailer would have scope to tender to develop 150MW of new renewable energy generation.
“The co-operative (energy) model has an internationally proven track record for delivering services,” said Business Council of Cooperatives and Mutuals CEO Melina Morrison.
“(It) is already being deployed in countries around the world, including the USA, Germany and Denmark,” she said.
“Nick Xenophon has been a long-time champion of co-operative and mutual enterprises – the Business Council of Co-operatives and Mutuals is confident this won’t be the last creative solution to SA’s problems using the co-op and mutual model from SA BEST.”