Thats why in this article, we are going to explain what Ausgrid does and when you may need to contact the company. The difference in revenue between TransGrid's revised proposal and our final decision is mostly driven by our forecast of capital expenditure (capex). endobj We also note in Victoria, through the proposed Victorian Transmission Investment Framework (VTIF) currently under consultation, VicGrid is aiming to deliver social and economic benefits in ways that are fair, meaningful and participatory. We understand the importance of building social licence for transmission projects through the RIT-T process and we are committed to working closely with communities to understand unique, local issues, and consider these issues as early as possible. Transmission reliability and performance standard -applicable from 1 July 2018. I am hoping that the aer wins the appeal. A range of potential options have been considered through the RIT-T framework. Targeted interconnector expansion between these regions would help to address transmission networklimitations,andimprove supply reliability as ageing coal-fired plants retire and access to competitively priced electricity from renewable generators and energy storage becomes critical. If the location of the proposed VNI West connection to WRL changes, it is unlikely to significantly alter the proposed WRL route, although would require uprating the proposed WRL transmission line to 500kV east of the connection point to accommodate the additional volume of renewable generation that would be harnessed from VNI West. Tax efficiency is enhanced by significantly overgearing the assets. AVP and Transgrid sought and encouraged feedback from stakeholders via submissions and consultations on the Project Assessment Draft Report (PADR), which was published in July 2022. The RIT-T process is a regulatory process defined in the National Electricity Rules (NER) as limited to determining if a project will deliver positive net market benefits to the National Electricity Market (NEM) as a whole. CKI is also a major investor in UK electricity distribution assets. Get up to 3 free, no obligation quotes from highly-qualified installers. The Minister for Energy and Environment has directed IPART to conduct a review of the network operators licences. Any decision to include undergrounding would require consideration of all technical, environmental, social and cultural constraints, together with stakeholder and community feedback. The Review of limited merits appealconcluded: The Panel therefore recommends that a new, wholly administrative, review body, provisionally labelled the Australian Energy Appeals Authority (AEAA), take over all, or the great bulk of, energy sector review work currently undertaken by the ACT, and in particular that the AEAA take over review of NSP revenue/price determinations. (See p5 of document). The PADR submission phase is designed to receive feedback from stakeholders, including community, on the proposed preferred option. Hong Kongs Cheung Kong Infrastructure (CKI) and State Grid of China [SGC] already own considerable utility infrastructure in Australia, and CKI in particular has an excellent reputation as an operator. [5], In 2018, Transgrid was among 17 energy businesses that supported the launch of the Energy Charter, a global initiative aimed at bringing together all parts of the power supply chain to give customers more affordable and reliable energy. The key difference between a switching station and substation is that a power transformer is not installed at the switching station. VNI West is a core component and priority project in the AEMOs 2022 ISP, which confirms the need for short- and longer-term investment to increase the transfer capacity between the states and it will provide a unique opportunity to deliver transmission infrastructure that supports new private sector investment in Clean Energy. AusNet continues to investigate WRL project alternatives as part of the Environment Effects Statement (EES) and to evaluate the impact that any proposal to relocate the terminal station may have on the WRL project. You can also contact this distributor to request a pole inspection, tree trimming or to receive historic data from your meter. Social and environmental issues are key considerations for a range of community and stakeholders in the assessment of any major infrastructure project, including major transmission projects. The safety and welfare of our people, delivery partners, and the broader community is our highest priority. Transmission projects have long lead-times that require extensive community engagement, planning and construction activities. In their feedback, several stakeholders questioned the location of the connection point to the Western Renewables Link (WRL) in Victoria. Smart meters are remotely read by your retailers appointed metering data provider, these meters record your energy in the same way as interval meters, that is, recording how much electricity is used every 30 minutes. Timing on the route selection process will be shared with stakeholders and community when known. Feedback from face-to-face and virtual meetings with stakeholders, including councils and local communities, on the PADR has seen 26 written submissions received from a broad range of stakeholders. Transgrid acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we work and we pay our respect to their Elders past and present. . - Endeavour Energy was partially leased (50.4%) to private operators in June 2017. As these factors are route-specific, any potential solution would be proposed as part of the route investigation and early works stage. Targeted interconnector expansion between these . We are committed to working with Traditional Owners, stakeholders, communities, and landholders to build our understanding of the local context and listen to interests and concerns as we develop and refine transmission line route options and Victorian terminal station locations. 2 0 obj To connect your home or business to the electricity grid, If you find any electricity faults that are not related to the network, To report a safety concern such as a fallen powerline, To discuss changing energy plans or retailers, To get permission to relocate network assets (i.e. The PADR and its attachments, and the July 2022 Project Update, can be accessed below in theResources section. Reliability and performance licence conditions - SUPERSEDED, Licence granted to the NSW Electricity Networks Operations Pty Limited, Minister's variation Signed by the Minister on 29 November 2017. Residents on the Ausgrid energy network should generally be able to choose their own electricity provider. He is principal at ITK, specialising in analysis of electricity, gas and decarbonisation drawn from 33 years experience in stockbroking research & analysis for UBS, JPMorgan and predecessor firms. Our database may not cover all deals in your area. This is front page news. @ Copyright RenewEconomy 2020. Accusations were also made of Ausgrid "gold plating" its business at the expense of consumers to increase the price in privatisation. Canstar Blue's website terms and conditions apply. ESCO Pacific on track to achieve 1GW development goal, A unique mix of opportunities and challenges for solar energy, How this Aussie-made technology is smashing the solar ceiling, ACT claims highest home battery density in Australia, as rebate scheme winds up, Jinko Solar unveils second generation Tiger Neo solar panels, Polestar EV battery packs now powering Candela electric hydrofoil boats, Used Tesla listings reach all-time high in Australia as price cuts take effect, Hertz and Uber ramp up electrification efforts in Europe with 25,000 EVs. If Ausgrid sold for 1.4X RAB then 50.4% would be worth around $10.7 bn. Transgrid is the manager and operator of the high voltage electricity transmission network in New South Wales and the Australian Capital . Different types of meters can be used to record and display your usage. Transgrid operates the major high voltage electricity transmission network in NSW and the ACT, and is part of the National Electricity Market (NEM). Whether benchmarking is an appropriate method for estimating allowable costs for Ausgrid and whether the AER used benchmarking in an appropriate way to produce an appropriate outcome. If you are looking to connect a new property to the electricity grid for the first time, you will need to contact Ausgrid. In the case of Ausgrid, the network assets would then be leased to an entity or entities in which the private sector bidders would hold a 50.4% equity interest.1 The State would retain a 49.6% equity interest in the lessee entity or . This page was written and is regularly updated by Canstar Blues energy content producer, Kelseigh Wrigley. Further project information is available from AVP and Transgrid through the contact details below. We are collaborating with local governments, Traditional Owners, Registered Aboriginal Parties, the Australian Energy Infrastructure Commission, and other key representative organisations to inform and guide our engagement activities and to build broader community awareness of the project. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> On 11 August 2016 the Federal Government intervened to block the proposal, citing national security concerns regarding foreign ownership of critical infrastructure. This information may have changed over time. <> The project is also expected to support regional employment and economic growth in some capacity across the LGAs where the project is sited. We operate and manage the high voltage electricity transmission network in NSW and the ACT. VNI West will be critical in the development of additional renewable generation in western Victoria and southwestern New South Wales, as the NEM transitions to low-emission generation technologies such as wind and solar. . 10 0 obj 255 (H) x 170 (W) x 63 (D) OR 273 (H) x 170 (W) x 63 (D) with an optional external hook. The value of Ausgrid will swing by billions of dollars depending on the outcome of the AERs appeal to the Federal Court against a very legalistic ACT ruling over 2014-2019 regulated revenues. SGC was likely to have paid a higher price than anyone else. This will include extensive community and stakeholder consultation. Non-confidential submissions to the PADR are available to view at the AEMO project webpage. In 2016, the New South Wales Government offered the effective sale of a 50.4% stake in Ausgrid, through a 99-year lease. We acknowledge community concerns that can be created by this uncertainty and therefore want to make a decision as quickly as possible while ensuring that there is still adequate time for communities and other stakeholders to provide input. Ausgrid connection contracts are valid up to a year from when the application was submitted. In order to assess all network and non-network options from a technical and economic perspective, we are using the Australian Energy Regulators Regulatory Investment Test for Transmission (RIT-T). The display of the interval meter is programmed to show the date and time (in Eastern Standard Time as required by the National Electricity Rules) as well as the total kilowatt hours (kWh). Unfortunately, no. Concerned? Strengthening the grid to deliver affordable, reliable and clean energy to customers. We need to progress VNI West urgently so that it is operational by the time its most needed. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin. We are currently consulting with communities that may be potentially impacted by the alternative connection location of VNI West into WRL so we can be confident we understand all the local factors before making any decision. The difference per year between what Ausgrid wanted going forward (green line) and what the AER allowed (purple line). Ausgrid was government-owned until December 2016 when it became majority-owned by private investor groups. Route selection will be finalised after the regulatory test for this project is completed, and in close consultation with stakeholders and communities. <> We translate those revenue differences to ebitda, earnings before interest, tax & depreciation, the prime metric in utility profit estimation as follows: To recap, Ausgrid appealed to the Australian Competition Tribunal[ACT] and the ACT essentially found in favour of Ausgrid on the three major grounds of appeal. All network operators with assets in NSW must be aware of and fully comply with all their legal obligations. Our engagement program to date and at this time, is to build confidence that the decision where best to connect VNI West into WRL has taken into account key technical, economic, social and environmental considerations to the extent possible at this RIT-T stage. endobj linkedin. Any difference between the reference price . This regulatory process ensures energy users avoid paying more than necessary for electricity through the transition to net zero emissions. Waubra/Lexton option: a new 500kV line connecting WRL at a new terminal station (TS) near Waubra/Lexton to Project Energy Connect (PEC); plus, a potential variation of an additional 500kV spur to Bulgana (i.e. The statutory obligations relevant to network operators and our role as the regulator are governed by a number of regulatory instruments. In 2015, the Government announced that Ausgrid, Endeavour Energy, and Transgrid would be fully or partially leased to private operators: How good are these numbers? Jemena was recently allowed to win, a very out of the money, bid to build a pipe to bring gas from the Northern Territory to Eastern Australia. Automation systems enable us to exert control in any part of the network and to enable communication between substations or switching stations and our control centre. 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