The average South Australian householder and small business is projected to save $14 and $28 respectively in the first year from the transmission component of their annual electricity bill, based on forecasts in ElectraNet’s 2019-2023 Revenue Proposal.
ElectraNet’s Chief Executive, Mr Steve Masters, said ElectraNet has proposed significant reductions in costs for the upcoming regulatory period.
“Compared to the current 2014 – 2018 regulatory period, we are forecasting capital expenditure to decline by 39%, and operating expenditure to decline by 11%, while still maintaining a safe, secure and reliable transmission service.
“ElectraNet has taken an industry-leading approach in the development of our 2019-2023 Revenue Proposal. We have adopted an early engagement program with our customers and other key stakeholders, who have told us that they value affordability, reliability and choice.
“Our Revenue Proposal is designed to deliver on the long-term interests of customers, consistent with the National Electricity Objective. ElectraNet is investing in the transmission network to support the safe, secure, reliable and affordable supply of electricity into the future.
“For example, the single largest project (around $80 million) included in our capital expenditure forecast is the replacement of major transmission line components on the Eyre Peninsula.
“We are mindful of the importance of a reliable electricity supply to all parts of the transmission network, and especially to regional communities around South Australia,” he said.
Mr Masters said that ElectraNet was leading the energy transformation of the state against a backdrop of considerable change, such as the impacts of extreme weather events, announcement of major energy policy reforms by the South Australian Government and the changing patterns of electricity generation and customer demand in South Australia.
“We need to manage the specific challenges of a changing generation mix and supporting emerging supply choices for customers. This is especially relevant when considering some of the unique aspects of the South Australia’s electricity supply, such as its very peaky demand and thinly spread population centres across a large state.
“As technology and electricity markets rapidly change, we also see greater interconnection playing an increasing role in the National Electricity Market by providing access to affordable and reliable electricity supplies, while enabling the choice and long-term sustainability valued by electricity customers.
“We will continue to investigate the feasibility of new interconnection options, and other solutions that may be required to meet the challenges of a fast moving industry landscape.
“Projects that we are looking into, such as new interconnection with the eastern states, or alternatives for the transmission line for Eyre Peninsula, would only proceed if benefits to customers outweigh the costs. These investments are excluded from our forecasts and subject to separate approval by the regulator,” he said
In continuing our collaborative approach with our stakeholders, ElectraNet’s Revenue Proposal will undergo a series of public consultations before a decision on the final proposal is made by the Australian Energy Regulator in early 2018. You can participate in this process help to influence the outcomes by providing feedback via ElectraNet’s or the Australian Energy Regulator’s websites.
Event
Media call for ElectraNet’s Revenue Proposal Submission
12 noon to 12.30pm
Thursday 13 April 2017
ElectraNet Boardroom, 52-55 East Terrace, South Australia 5000
Please note that media call will take place in the ElectraNet Boardroom, which is a secured location. Media and crew will need to register at reception prior to accessing the building.
-ends-
Media Enquiries
Name: Sharon Lam
Media line: +61 8 8404 743
About Us
ElectraNet is the transmission network service provider for South Australia and provides energy and infrastructure solutions across Australia. We own and operate over $2.5 billion of electricity transmission assets that transport electricity over long distances and to remote areas. A critical part of the electricity supply chain, ElectraNet’s transmission network delivers safe and reliable electricity supply. Our transmission costs make-up less than 10% of end-user electricity prices.