[2] Initial bidding was won by a consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings. This will provide meaningful opportunity for stakeholder and community engagement on values, opportunities and constraints before a final decision on connection location is made at the time the RIT-T is concluded, and the Project Assessment Conclusions Report (PACR) is published. The residents, after many urgent appeals to Ausgrid's COO Trevor Armstrong and the chairman Roger Massey-Green, had been given no other option to notify local MP's, the media, the Environmental Protection Authority and other authorities to get action against Ausgrid. It is important to note that Ausgrid does not generate electricity for you to use, nor is it involved in customer billing. The appeal grounds around the appropriate cost of debt are much more legal, and in part, turn on whether the ACT was even entitled to consider the matter and whether the appropriate benchmark entity is a regulated utility or an unregulated entity. How good are these numbers? Our network extends throughout NSW and the ACT, with connections to Queensland and Victoria. Reliability and performance licence conditions - SUPERSEDED, Licence granted to the NSW Electricity Networks Operations Pty Limited, Minister's variation Signed by the Minister on 29 November 2017. . Videos of the presentation can be viewed below, with copies of the slide pack available in the Resources section below. The safety and welfare of our people, delivery partners, and the broader community is our highest priority. Transgrids 2021 Transmission Annual Planning Report and AEMOs 2021 Victorian Annual Planning Report have identified the need for additional interconnection to maintain Victorias supply reliability following the withdrawal of further coal-fired generation plants, and EnergyAustralias official advice that the Yallourn Power Station is expected to retire in mid-2028. Accusations were also made of Ausgrid "gold plating" its business at the expense of consumers to increase the price in privatisation. For information regarding the other functions and services provided by smart meters, please contact your retailer. There are three major underlying issues in contention and we not expressing the legal language or points but what we perceive as the underlying common sense issues: At first we didnt think the AER stood much of a chance in the appeal. Interval meters record how much electricity is used every 30 minutes. SKI owns 15% of the consortium. Ausgrid revised regulatory proposal - Attachment 9.02 5 the types of transmission system assets that are directly attributable to each category of prescribed transmission services; and those parts of a proposed transmission pricing methodology, or the information accompanying it that will not be publicly disclosed without the consent of the TNSP. Ausgrid, Evoenergy, and Essential Energy. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This means you can have time of use pricing. In 2015, the Government announced that Ausgrid, Endeavour Energy, and Transgrid would be fully or partially leased to private operators: - Transgrid was fully leased to private operators in December 2015 Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. VNI West will harness cleaner, cheaper electricity from existing and future renewable energy zones in New South Wales and Victoria, significantly boosting the ability to share energy between states and unlock the full potential of Snowy 2.0s deep energy storage. This includes gathering Traditional Owners, Registered Aboriginal Parties, community and stakeholder feedback and land surveys. VNI West will provide a vital new transmission line to link new renewable generators with the grid and ensure reliable, affordable power as Australia transitions to clean, low-cost renewables. Route selection will be finalised after the regulatory test for this project is completed, and in close consultation with stakeholders and communities. Transgrid operates and manages the major high voltage electricity transmission network in NSW and the ACT, connecting generators, distributors and major end users. [5] State Grid Corporation of China was one of the other bidders, in a consortium with Macquarie Infrastructure Real Assets. To our knowledge, all information in articles on the Canstar Blue website was correct at the time of publication. In April 2022, Transgrid entered into anunderwriting agreementwith the Commonwealth Government to develop VNI West. 13 0 obj SGC owns 19.9% of listed stapled security Ausnet. By leading the transition to a clean energy future, we aim to make a better power system for Australians. As always, check all details of any plan directly with the retailer before making a purchase decision. upgrade WRL from near Waubra to Bulgana). All networks operators with assets in NSW are subject to at least some provisions of the following instruments: Electricity Supply (General) Regulation 2014, Electricity Supply (Safety and Network Management) Regulation 2014. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. 11 0 obj The proposed expansion will address transmission network limitations. Unfortunately we cannot provide dimensions for older models installed before 2004 due to the existence of a significant number of legacy models. In October 2022, the Victorian and Commonwealth Governments jointly announced support, through the Commonwealth Governments Rewiring the Nation plan, for this project to be built by 2028. Concerned? Major decisions, such as the location of the VNI West connection to WRL, consider engineering and economic factors. 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. Integrating sustainability principles across our operations helps to protect our communities. We recognise the vital role that Traditional Owners and stakeholders, including community and landowners, have in the planning and delivery of major transmission infrastructure projects. 8 0 obj 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. The electricity network and transmission lines in NSW are owned by Transgrid - a privately owned company. This ensures electricity is safely and reliably transmitted to major urban areas. The views expressed are his own. The network consists of more than 49,000 kilometres of overhead and underground powerlines, with more than 31,000 distribution substations. AVP and Transgrid have received feedback during the RIT-T process to consider undergrounding of transmission lines to mitigate specific impacts including visual amenity and bushfire risk. We have provided links to each network operators licence (and any subsequent variations) below. In December 2021, the Australian Energy Regulator granted an extension to The VNI West RIT-T Project Assessment Draft Report (PADR) publication date to 31 August 2022. SGC was likely to have paid a higher price than anyone else. If you are looking to organise a new power connection, the first thing you will need to do is ensure the property is situated within the Ausgrid network. Ausgrid's real revenues increased 150% between 2005 and 2012 and increased 66% between 2010 and 2013. A recent study commissioned by a collaborative Steering Committee on Transgrids HumeLink project noted that undergrounding of HumeLink would triple the project cost and add a further five years to the construction timeline. endobj Here are the Origin Energy plans on our database for NSW. Bulgana option: a new 500kV line connecting WRL at a new TS near Bulgana to PEC; OR a new 500 kV line connecting WRL at a new TS near Bulgana to PEC, via a new TS near Bendigo and a TS station near Kerang. VNI will help lower the cost of wholesale electricity across the National Electricity Market. Transmission reliability and performance standard -applicable from 1 July 2018. Transgrid is the manager and operator of the high voltage electricity transmission network in New South Wales and the Australian Capital . 3 0 obj Ausgrid was government-owned until December 2016 when it became majority-owned by private investor groups. This enabled Transgrid and AVP to undertake refreshed market modelling as part of the RIT-T process and align with the 2022 Integrated System Plan (ISP) optimal development path and consider the impacts of: See the April 2022 project update for more details. The matters that can and cannot be considered are set out in RIT-T application guidelines developed by the Australian Energy Regulator (AER). AER appeal to the Federal court is the shadow hanging over Ausgrid. See the December 2021 progress updatefor more details. Accumulation meters only keep track of the total electricity usage. In general investment banking analysts were critical of the price paid although the SKI share price has held up well. Careers . <> Your meter is read by your meter service provider/Distributor who provides your 'read' to us so we can calculate your energy bills. <> The PACR, including responses to feedback received, will be published in 2023. 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. If you are on the Ausgrid network, it may pay to keep these details handy for the next time you have an outage or power supply issues. Please see the review page for details of the review. ENV owns the gas distribution business in South Australia, a part of the gas distribution business in Victoria, Southern NSW and QLD. Ausgrid does not operate as a general electrician service and can only assist with issues that relate to your network connection. If you lose power, the first thing you should do is use your mobile to look at the Ausgrid website and check whether they are already aware of the issue. Integrating sustainability principles across our operations helps to protect our communities. Licence granted to the Ausgrid Operator Partnership, Licence - to be read in conjunction with the below variations, Minister's variation - Signed by the Minister on 4 December 2017, Minister's variation - Signed by the Minister on 5 February 2019, Minister's variation - Signed by the Minister on 23 September 2022. Ausgrid was seen as forcing their network capacity increasing (and therefore profit increasing) projects onto local residential 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. The AER argues that the Tribunal expressed concerns about the use of estimated econometric data to estimate Ausgrids costs, but made no finding that the estimates were materially inaccurate or unreliable. Transgrid and AVP received 26 submissions during the PADR submission period (29 July 9 September 2022). The following chart is from the AERs final report. Our database may not cover all deals in your area. . We need to progress VNI West urgently so that it is operational by the time its most needed. I am hoping that the aer wins the appeal. Licence granted to the Endeavour Energy Network Operator Partnership, Licence - to be read in conjunction with below variation. Transmission projects have long lead-times that require extensive community engagement, planning and construction activities. 4 0 obj Learn about our other projects which secure ongoing supply for energy customers. CKI is also a major investor in UK electricity distribution assets. Trevor Armstrong (COO), New England County Council (New England Electricity), North West County Council (North West Electricity), Northern Riverina County Council (Northern Riverina Electricity), Northern Rivers County Council (Northern Rivers Electricity), Peel-Cunningham County Council (PCCC Electricity), Shortland County Council (Shortland Electricity), Southern Mitchell County Council (Southern Mitchell Electricity), Southern Riverina County Council (Southern Riverina Electricity), Southern Tablelands County Council (Southern Tablelands Electricity), This page was last edited on 20 September 2022, at 13:11. endobj In response, further analysis is currently being undertaken jointly by AVP and Transgrid to include consideration of alternate VNI West options, connecting to WRL at different points between Mt Prospect and Bulgana, in the next phase of the RIT-T. As part of this additional VNI West RIT-T analysis, we will be consulting with Traditional Owners, communities and local governments in the areas of interest. title: "" This consultation will focus on Traditional Owners and communities that are 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. Electronic accumulation meters have a digital display. 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. It is the first of a three stage RIT-T process. 10 0 obj Discover opportunities for apprentices, graduates and professionals. Ausgrid, Endeavour Energy, Essential Energy and Transgrid (Network Operators) each hold an operating licence. We are responsible for reading your meter and sending the data to your electricity retailer. Ausnet owns and operates Victorias electricity transmission business, is one of 5 electricity distribution operators in Victoria and also owns one of the gas distribution businesses in Victoria. Thats why in this article, we are going to explain what Ausgrid does and when you may need to contact the company. Since the 1950's, our network has developed to meet the growing needs of energy consumers. EnergyConnect is a critical project that will lower power bills for homes and businesses. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. For this reason, these meters are also known as time of use meters. Transgrid is the manager and operator of the high voltage electricity transmission network in New South Wales and the Australian Capital Territory, Australia, and is part of the National Electricity Market (NEM). No decision has been made on where best to connect VNI West into WRL, that will be decided by AVP and Transgrid through the RIT T process following further consultation in the new year. A transmission line transmits electricity across vast distances. As part of the RIT-T process, a preferred option must be identified that maximises the net market benefits for consumers while meeting the power system needs. AVP and Transgrid also support the Energy Charters work in developing social licence guidelines for co-existence of transmission infrastructure and agriculture in an attempt to mitigate negative impacts and prioritise the need for shared values through the energy transition. With a future with diminishing mineral resource extraction, and the best arable land being progressively sterilised by a variety of impacts (urban sprawl, land degradation (erosion, salinisation, acidification)), and more mouths to feed because of the rapacious demands of developers and other pro-immigration scammers, there seems little opportunity to reel in this dire situation without severely reducing our expectations in resource consumption (ie, living standards). Who owns the electricity grid in New South Wales? Minister's variation - Signed by the Minister on 5 February 2019. While this additional analysis is exploring options for VNI West, there is potential for any decision to directly impact landholders and their neighbours along the existing WRL proposed route. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Ausgrid was wholly owned by the Government of New South Wales from 2011 to 2016. Transgrids recent commitment to the Project Energy Connect enhanced 500 kV investment between Dinawan and Wagga, which has been supported by the Federal Government, the announced earlier closure date of Yallourn Power Station, EnergyAustralias announced Jeeralang Battery in Victoria, Inform stakeholders of the investment need and proposed optionsto address it, Test the market for alternative and more efficient solutions. Its fair to say, in our view, that CKIs Australian assets have been the most efficiently run in the NEM, as judged by the AER. We have started engaging with stakeholders including local governments, Traditional Owner groups and community representatives on a range of local factors related to the project, including the location of the terminal station for the VNI West connection to WRL. Explain to stakeholders the basis on which the preferred option has been selected. 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. Transgrid has entered into an underwriting agreement with the Commonwealth Government to develop the Victoria to New South Wales Interconnector West (VNI West), a major transmission infrastructure project proposed to secure the electricity supply and boost sharing between the two states. In 2016, the New South Wales Government offered the effective sale of a 50.4% stake in Ausgrid, through a 99-year lease. Reliability and performance licence conditions, Transmission reliability and performance standard. The development of VNI West will open up opportunities for renewable generation investment and diversity in REZs across Victoria and New South Wales by providing spare transmission capacity to allow this generation to get to market. [citation needed], "Treasurer blocks sale of Ausgrid to Chinese, Hong Kong bidders", "Treasurer Scott Morrison blocks sale of Ausgrid to foreign bidders", "Ausgrid sale: Baird Government sells half to Australian firms for $16 billion", "Police intervene in stand-off between Ausgrid and angry Penhurst residents", "March of the tall grey poles has residents fuming", Electricity Commission of New South Wales, EnergyAustralia (state government enterprise), Sydney County Council (Sydney Electricity), List of power stations in New South Wales, https://en.wikipedia.org/w/index.php?title=Ausgrid&oldid=1111334623, Government-owned companies of New South Wales, Electric power distribution network operators in Australia, Articles with unsourced statements from April 2022, Creative Commons Attribution-ShareAlike License 3.0, Richard Gross (CEO) Transgrid and AEMO Victorian Planning (AVP) have today published the Project Assessment Draft Report (PADR) for the Victoria New South Wales Interconnector (VNI) West project as part of the Regulatory Investment Test for Transmission (RIT-T) process. 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