Proposed investment plan for secure and reliable electricity supply into the future
Power and Water has released its proposed investment plan to deliver essential power services to Territorians on the Darwin-Katherine, Tennant Creek and Alice Springs electricity networks for the 2024 – 29 period.
After significant customer and stakeholder engagement, Power and Water has submitted the plan, the Regulatory Proposal, to the Australian Energy Regulator (AER), who will undertake a review of the proposed expenditure and revenue.
‘Over the past 18 months, we have worked closely with our customers and stakeholders to ensure their priorities for a secure and reliable electricity supply, now and into the future, are reflected in our proposed investment plans,’ Power and Water’s Executive General Manager Power Services, Stephen Vlahovic said.
‘Directly engaging with and listening to our customers is an important part of how we have developed our plans to invest in key areas of our electricity network.’
Power and Water is proposing to invest $987 million over the 2024 – 29 period to upgrade the electricity networks and systems to ensure they are stable, reliable and ready for the renewable energy future.
Key investments will include replacing ageing assets, including poles and wires in Darwin that were all replaced at the same time after Cyclone Tracy, new infrastructure to meet growing demand, particularly for renewable energy, and modernising ICT systems to provide improved services to customers and meet security requirements.
‘Customers told us they wanted to continue with our expenditure plans, partner with industry and government to facilitate renewable technologies and explore new tariff structures and pricing signals that support better energy efficiency and affordability,’ said Mr Vlahovic.
‘To deliver the investment plan, Power and Water is proposing to seek revenue of $996 million over the five years – about $128 million more than that expected to be spent between 2019 and 2024.’
The AER ensures energy consumers receive secure, reliable and affordable energy by regulating the electricity networks across most of the country, including setting the revenue thresholds for service providers like Power and Water.
The NT Government, through the NT Pricing Order, provides price impact protection for customers who use less than 750MWh each year.
The AER is expected to publish their draft decision in September 2023.
Any impact on customers’ invoices will depend on the AER’s Final Decision in April 2024 and any NT Pricing Order decisions subsequently made by the NT Government.
The Darwin-Katherine, Tennant Creek and Alice Springs networks provide electricity to 72,000 residential customers and 11,000 businesses.
Territorians are encouraged to share their feedback on the Initial Regulatory Proposal via the Our future electricity plans website.
Ends.
Contact: Media unit
Phone: 0401 117 599
