South Australian Treasurer Tom Koutsantonis has revealed a total cost of $339 million to lease and then buy the emergency fast-start electricity generators which will run on diesel fuel for the next two summers and then convert to gas, while also unveiling a $370 million public sector cost-cutting program to replace the dumped state-based bank tax.

Mr Koutsantonis gave his Mid-Year Budget Review update on Thursday which revealed for the first time the specific cost of the nine fast-start generators which have been built by United States company APR Energy as part of the $550 million energy plan announced by the South Australian Government in March to bolster a fragile electricity grid.