Credit: ABCFacing the highest energy prices in Australia, the South Australian Chamber of Mines and Energy (SACOME) has partnered with renewable energy developer SIMEC Zen Energy, in a deal that has the potential to save a consortium of its members between 20% and 50% on their power costs. This deal represents a crucial step for SIMEC Zen Energy, under its new owner Sanjeev Gupta, in their plan to become a significant energy generator and retailer.
The eight-year contract will begin in 2019. As SIMEC Zen Energy’s projects will still be under construction by that date, the company will contract and underwrite other renewable energy projects to fulfill the deal. The Australian Competition and Consumer Commission authorized SACOME members to go to market for a new electricity supplier in the hopes that the addition of new independent generation capacity will improve competition and help bring down power prices in SA. Read the full story HERE