The Australian Competition and Consumer Commission (ACCC) has issued a final determination granting authorization for the South Australian Chamber of Mines and Energy Inc (SACOME) to establish a joint electricity buying group. This initiative allows SACOME and its participating members to pool their electricity demand, conduct a joint tender process, and individually enter into supply agreements with the selected electricity supplier.

The ACCC believes that this collaborative approach is likely to generate public benefits that outweigh any potential public detriment. By pooling their demand, members can negotiate better terms and potentially lower electricity costs.

The authorization granted by the ACCC is valid for a period of 12 years, expiring on 13 November 2037. This long-term approval reflects the ACCC's confidence in the benefits of the proposed conduct.

For further details, interested parties can refer to the ACCC's public register regarding the South Australian Chamber of Mines and Energy Inc.