ElectraNet welcomes today’s announcement by the Australian Energy Regulator (AER) approving the expenditure required to deliver the proposed SA-NSW interconnector, Project EnergyConnect.
The AER determination allows capital expenditure of $2.28 billion to deliver the project efficiently, including $457.4 million for ElectraNet to construct the South Australian section of the project.
ElectraNet also welcomes the TransGrid Board’s final investment decision to proceed with the NSW section of the project.
The ElectraNet Board will review the determination by the AER and consider its final investment decision on the project in the coming days.
“The AER and TransGrid decisions are a significant milestone for Project EnergyConnect, which is a project of national significance and a priority project for the national electricity grid,” said ElectraNet Chief Executive, Steve Masters.
Independent analysis shows Project EnergyConnect is expected to deliver net annual savings of around $100 for a typical household in South Australia – it will drive competition in the wholesale electricity market by connecting more, low-cost generation to the grid and support the ongoing transition to a lower carbon emissions future.
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