There are typically three different types of meters. If not, you can select your property on the map to report an outage. . There is a lot at stake as evidenced by the legal bill. Unfortunately we cannot provide dimensions for older models installed before 2004 due to the existence of a significant number of legacy models. 6 0 obj Transmission lines transport electricity at high voltages primarily to minimise energy losses. While visual amenity impacts and bushfire risk are reduced, undergrounding raises its own suite of issues: for example, disturbance to flora and fauna, and archaeological sites, and increased impact on land use (the land above an underground power line may not be able to be used for some farming activity). This regulatory process ensures energy users avoid paying more than necessary for electricity through the transition to net zero emissions. ENV owns the gas distribution business in South Australia, a part of the gas distribution business in Victoria, Southern NSW and QLD. 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. The primary options being considered include: 1. 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). This is why we are taking this step of consulting with potentially impacted communities so we can be confident we understand all the local factors before making any decision. That information is then sent to our systems, validated and then sent to your electricity retailer so they can calculate your bill. As always, check all details of any plan directly with the retailer before making a purchase decision. Any faulty or fallen powerlines spotted on the central-east coast of NSW should also be raised with Ausgrid. 8 0 obj [2] Initial bidding was won by a consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings. As a qualified journalist, Kelseigh aims to light the way for everyday Aussies, helping them find a better deal on their energy plan. The difference per year between what Ausgrid wanted going forward (green line) and what the AER allowed (purple line). AusNet Services has been contracted by AEMO to delivery WRL and has been notified of our current VNI West investigation. [2] The Authority was corporatised in December 1998, by the Energy Services Corporations Amendment (Transgrid Corporatisation) Act 1998, and Transgrid became the actual name of the corporation. The change in voltages occurs at substations. [ 11 0 R] In the National Energy Market, our operations are governed by a number of institutions. 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. Our network extends throughout NSW and the ACT, with connections to Queensland and Victoria. Learn about our other projects which secure ongoing supply for energy customers. Non-confidential submissions to the PADR are available to view at the AEMO project webpage. A consortium paid $10.4bn for 100% of Transgrid last year representing 1.6 X EV:RAB and FY15 EV:Ebitda of 16X. endobj 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). This summary is an aide only, and should not be relied upon by licence holders and other stakeholders as a substitute for thoroughly reading all relevant regulatory instruments. A six week period of public feedback followed the PADR publication, which closed on 9 September 2022. A dependable partner to millions of Australians, were the backbone that energy suppliers rely on. This suite of documents comprises TransGrid's application of the Regulatory Investment Test for Transmission (RIT-T) which has been prepared and made available solely for informat 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. for rating of Ausgrid's underground cables and some detail on why this information is required, the information Ausgrid will supply as part of rating Ausgrid assets and a checklist to ensure all aspects of rating an underground are considered. In February 2023, we will also be publishing a consultation report explaining the proposed preferred option from this additional analysis and inviting further feedback through written submissions prior to concluding the RIT-T. We are and will continue to engage with Traditional Owners and stakeholders to facilitate meaningful input, and clearly explain the rationale and benefits of the project. We have never heard any criticism of its interests in regard to national security. This is front page news. 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. <> Our directors and executive team have a wealth of combined experience across the energy industry. A dependable partner to millions of Australians, were the backbone that energy suppliers rely on. Reliability and performance licence conditions, Transmission reliability and performance standard. . The Ausgrid network covers the central-east coast of New South Wales, spanning from Sydney to as far north as Nelson Bay and as far west as the Great Dividing Range. %PDF-1.5 We calculate as follows: By comparison, the four listed comparable investments, AUS, DUE, SKI trade as follows: You can see that the sharemarket tends to value these assets, once they have been optimised, and including some extra non regulated revenue at about 8.5X ebitda and at about 1.4X regulated asset base [RAB]. Although VNI West will not be delivered under the VTIF, VicGrid has indicated that the principles detailed within the framework should be incorporated into the various phases of the project where possible. Below we have listed some of the cheapest electricity prices in New South Wales on the Ausgrid network. endobj Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. As part of this we are committed to having robust processes to determine stakeholder and community needs and be accountable on how feedback has been considered and incorporated into decision making. Ausgrid, Evoenergy, and Essential Energy. If you experience a blackout or power outage, Ausgrid should be your first port of call. These leases resulted in some additional obligations for the three operators, including the following: - The Code of Practice for Authorised Network Operators, which relates to environmental impact assessments and compliance, is required as a licence condition. A range of potential options have been considered through the RIT-T framework. Ausgrid services more than 1.7 million homes and businesses on the NSW central-east coast. 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. Stay up to date. AVP and Transgrid are committed to working with stakeholders and communities from an early stage in the RIT-T process to build our understanding of the local context, listen to interests or concerns, and use that information to help to refine transmission line route options. If you are in these areas and would like to know more, please email info@westernrenewableslink.com.au or call 1300 360 795. 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. 9 0 obj Ausgrid owns most meters connected to our network. A transmission line transmits electricity across vast distances. The AER also argues that the ACT effectively states that the existing cost of debt for a regulated entity is by definition to be regarded as efficient whereas that need not automatically be correct. Who owns the electricity grid in New South Wales? SGC was likely to have paid a higher price than anyone else. A route selection study would follow conclusion of the project being endorsed by the RIT-T process, and is most likely to be progressed within the context of an EES (in Victoria) and an Environmental Impact Statement (in New South Wales). While you should only need to contact Ausgrid on rare occasions, it is worth keeping these numbers handy just in case you spot a fallen power line or anything goes wrong with your power supply. For another comparison we can look at what was paid for Transgrid as recently as last year. The final, detailed route alignment would be the output of both the technical assessments and stakeholder engagement throughout the route selection study process. difference to bushfire risk between overground and underground transmission lines and no significant difference to operational costs. Our crew are working to safely restore power. If you live on the central-east coast of New South Wales, your electricity distributor will be Ausgrid. 3. Any queries relating to metering at your home should be referred to your electricity retailer or meter provider. 14 0 obj [1], Transgrid began as the trading name of the Electricity Transmission Authority which was established on 1 February 1995 as a statutory authority under the Electricity Transmission Authority Act 1994, as part of the break-up of the Electricity Commission of New South Wales. We are responsible for reading your meter and sending the data to your electricity retailer. Great story. Each meter records and displays the information differently. stream On 11 August 2016 the Federal Government intervened to block the proposal, citing national security concerns regarding foreign ownership of critical infrastructure. [10], Brett Redman Chief Executive Officer[12], Craig Stallan - Executive Manager Works Delivery, Kasia Kulbacka - Executive Manager Network Planning & Operations, Chris Pemberton Executive Manager Corporate Services, Richard Lowe - Chief Executive Officer - Lumea, Brian Salter - Executive Manager Legal Governance & Risk, Eva Hanly Executive Manager of Strategy, Innovation & Technology, Jeff Forrest Chief Financial Officer (Acting). We have provided links to each network operator's licence (and any subsequent variations) below. Tax efficiency is enhanced by significantly overgearing the assets. upgrade WRL from near Waubra to Bulgana). 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. VNI will help lower the cost of wholesale electricity across the National Electricity Market. linkedin. Please visit AusNets website for further details of the current schedule. 255 (H) x 170 (W) x 63 (D) OR 273 (H) x 170 (W) x 63 (D) with an optional external hook. It will harness clean, low-cost electricity from existing and future renewable energy zones (REZs) in New South Wales and Victoria (Murray River REZ and Western Victoria REZ), significantly boosting the ability to share energy between states and increase access to Snowy 2.0s deep energy storage. 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. Having read the AERs grounds for appeal, we think it would be very foolish to write off the chances of the appeal succeeding. It applies to each network operator from the date it was transacted. Ausgrid was wholly owned by the Government of New South Wales from 2011 to 2016. @ Copyright RenewEconomy 2020. We invest in building sustainable working relationships with all our procurement partners. 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. 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. 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. Whether the AER was entitled to calculate interest rate revenue allowances in the way it did (using a ten year forward looking moving average). This can be done through the postcode checker on the Ausgrid website. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Powering Sydney's Future secures the electricity supply for Sydneys CBD and surrounding suburbs. <> Videos of the presentation can be viewed below, with copies of the slide pack available in the Resources section below. endobj Canstar Blue's website terms and conditions apply. There are routine meetings with councils and in the new year, we will be providing more details on further opportunities for stakeholders to share their insights and feedback on VNI West connection locations to WRL. Transmission projects have long lead-times that require extensive community engagement, planning and construction activities. The project team is currently considering feedback received as inputs to the Project Assessment Conclusions Report (PACR). Unfortunately, no. 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. power poles) to undertake work on your property, To enquire about your electricity bill (contact your retailer e.g. For example, for the VNI West RIT-T, high-level land planning and environment constraints mapping is being applied to inform the credibility and feasibility of the broad areas of interest under consideration and the potential risks to cost and delivery times. VNI West is currently at an early project stage called the Regulatory Investment Test for Transmission (RIT-T). Not all network operators are subject to the same obligations. A community engagement event schedule will be published on our website and other channels in the new year. These are products from a referral partner. [7], In 2020, OMERS acquired a 19.99% stake in Transgrid from Wren House Infrastructure Management, which is part of the state-owned Kuwait Investment Authority.[8]. We recognise the vital role that stakeholders, including Traditional Owners, community and landowners, have in the planning and delivery of major transmission infrastructure projects. A community engagement event schedule will be published on our website and other channels early in the new year. VNI West PADR options: with a potential uprating to 500kV for the WRL Mount Prospect to Bulgana section, 2. Transgrid runs over 13,000 kilometres of transmission wires in NSW and the ACT, with connections in Queensland and Victoria as well. According to the Ausgrid website, over four million Aussies rely on their energy from this network. Ausgrid has a selection of tariff options for energy customers in New South Wales, each of which outline different connection charges and metering for homes and businesses. 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. Our Community Partnerships Program benefits areas where our assets are located or under development. Should WRL not receive the required environmental and planning approvals, the impact on VNI West would need to be considered at that point in time. The interconnector upgrade will boost interstate power flows and lower energy bills. This information may have changed over time. Discover opportunities for apprentices, graduates and professionals. SKI owns 15% of the consortium. AGL, Origin). 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. The difference in revenue between TransGrid's revised proposal and our final decision is mostly driven by our forecast of capital expenditure (capex). This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. endobj We have provided links to each network operators licence (and any subsequent variations) below. <> Ausgrid operates under this partnership in a long-term lease, with Australian Super and IFM Investors owning 50.4 per cent of the network, while the NSW Treasury owns 49.6 per cent. Over the last 12 years SolarQuotes has steadily built a network of heavily vetted solar installers. Customers in the Parramatta, Penrith, Lithgow, Richmond, Wollongong, Moss Vale or Nowra regions are connected on theEndeavour Energy network, while customers west of Bathurst and Goulburn, south of Batemans Bay and north of Dungog are connected to theEssential Energy network. The safety and welfare of our people, delivery partners, and the broader community is our highest priority. This includes opportunities for earlier and deeper engagement with local communities to help better manage impacts and to make the most of regional development opportunities for host communities. The Minister for Energy and Environment has directed IPART to conduct a review of the network operators licences. 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. 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. Transgrid has signed on as major Platinum Partner of Moama Lights - Lighting up the Murray, which is an initiative of the Murray River Council. The non-confidential submissions are available to read on the AEMO website. [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) The network connects generators, distributors and major end users. For this reason these meters are also known as flat rate meters. <> These are products from referral partners. Try selling that to politicians or Joe Public. WRL is in the preparatory stage of the Environment Effects Statement (EES) and is therefore yet to receive the required environmental and planning approvals. You can also contact the Transgrid team in NSW via VNIW@transgrid.com.au or the AEMO team in Victoria via VNIWestRITT@aemo.com.au. Ausgrid undertook the rapid replacement of its fleet of vehicles. Transgrid participates in the Australian Energy Regulator's (AER) revenue proposal process, where submissions of the transmission network service providers (TNSP), the AER and other interested parties are used to set the maximum allowable revenue (MAR) for the TNSPs for a five-year period. trigger: "onclick hover", Ausgrid was government-owned until December 2016 when it became majority-owned by private investor groups. If Ausgrid sold for 1.4X RAB then 50.4% would be worth around $10.7 bn. The assets are worth more to foreign buyers because: Overseas buyers have a lower cost of capital; Most utility infrastructure is structured as a combination trust/company (stapled security). Transgrid . 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. While the assessment involves evaluating the technical and economic feasibility of a new transmission line, environmental, social and cultural matters may also be considered to the extent that they are relevant to this analysis. As a result the regulator decided to cut Ausgrids 2014-2019 revenues by an eyebrow raising 40% compared to what Ausgrid was looking for. }); Some people occasionally get confused about the difference between distributors such as Ausgrid and retailers like AGL, EnergyAustralia or Origin Energy. It shows that: Ausgrids real revenues increased 150% between 2005 and 2012 and increased 66% between 2010 and 2013. There are typically three different types of meters. This will include extensive community and stakeholder consultation. AVP and Transgrid have already commenced engagement with a number of Traditional Owner groups and other key regional stakeholders, including councils and community groups through the RIT-T process to build understanding of unique, local issues. Learn about our other projects which secure ongoing supply for energy customers. Some people occasionally get confused about the difference between distributors such as Ausgrid and . That is, we persist on selling off the farm, to entities from countries that must think that we are idiotically free and easy. Its really worth looking at this chart for a minute. 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. Electricity is also transmitted into areas with high population density through high voltage underground cables. This consultation will provide a number of different opportunities for community members to provide feedback in addition to our regular engagement with councils, governments, consumer representatives and industry. 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 .