Speaking after the release of a framework for electricity reform, Mr Ripper said high electricity prices were a handbrake on the State's economy and disadvantaged consumers.
Last year, a top level task force set up by the Government commissioned an independent study to make recommendations for change and found prices would fall and new jobs would result from the reform plans.
"While the State's electricity system must become more competitive to develop the economy, this has to be balanced with strong regulation to protect consumers, maintain the uniform tariff principle and preserve existing rebates," the Minister said.
"Electricity reform is about investment, jobs and growth - and a better deal for consumers. There is no longer any credible argument against reform."
The electricity reform task force commissioned an independent cost and benefit analysis, which found the benefits of reform included an average 8.5 per cent cut in retail electricity prices, a boost to gross state product of up to $300 million a year by 2010 as well as creating about 3000 new jobs.
Mr Ripper said the Government remained implacably opposed to privatisation of Western Power. "Privatisation will not achieve true competition," he said. "It would simply turn a public monopoly into a private monopoly, which fails to address the structural problems blocking new entrants, including renewable energy suppliers, from competing in the energy market."
The Minister said the task force examined national and international energy reforms before drawing up its 79 recommendations. "The task force has learned from the positive and negative experiences of others and put forward a reform plan that suits Western Australian conditions," he said.
Mr Ripper said the Government would consider the recommendations and the views of stakeholders such as energy unions over the next several weeks before adopting its final position on the reforms.
Members on the taskforce include former UK oil and gas industry executive John Hyslop OBE (chairman); energy economist Dr Frank Harman; former Western Power executive John Kelly; and WA Office of Energy chief Anne Nolan and her predecessor Dr Les Farrant.
