2028-2033 Revenue Proposal

We are developing our electricity transmission revenue proposal for 2028-2033. This proposal will set out how we invest in the network, manage costs and support the ongoing transition to a more renewable energy system.

Every five years, we submit this proposal to the Australian Energy Regulator (AER), who reviews it to ensure the plan delivers what electricity consumers and our directly connected customers, such as energy distributors, need at the lowest sustainable cost. This process is known as a regulatory reset.

We will be seeking input from regulators, industry participants and other stakeholders to make sure the plan reflects system needs, policy settings and stakeholder priorities. To support this, we have developed a comprehensive engagement plan for industry, consumers and their advocates.

This engagement relates to our 2028-2033 revenue proposal, which outlines the scope of the work necessary to operate, maintain and expand the transmission network, along with the associated costs.

Discussions will focus on key areas relevant to system performance and long-term outcomes, including:

• Reliability of supply
• Cost efficiency and prudency
• System security and operability
• Network risk, resilience and asset management
• Technology enablement and innovation
• Service quality and experience
• Long-term value for consumers and the market.

Engagement will focus on the areas where input from consumers and stakeholders can inform priorities, trade-offs and decision-making to help ensure the proposal reflects long-term consumer needs and priorities.

Transgrid cannot set its own prices.

Every five years, we submit a detailed plan to the Australian Energy Regulator (AER)  – the independent body that reviews electricity networks across Australia, except Western Australia.

The AER reviews this plan, including:

• the work required
• the associated cost
• the resulting bill impacts on consumers

The AER applies the National Electricity Rules that are set by the Australian Energy Market Commission (AEMC). These rules are designed to protect consumers by making sure network companies charge only for the costs necessary to run and upgrade the electricity grid.

This independent review helps ensure spending is reasonable and focused on delivering reliable electricity at the lowest possible cost. 

Yes. Changes to the electricity network can affect your energy bill over time.

Your bill has several parts.

The largest share is usually the cost of generating electricity – by wind, solar, hydro and the remaining coal power stations.

Other parts cover:

• The local distribution networks (poles and wires) that deliver electricity to your street and property
• Retailers that manage billing and customer service

Transmission – the part Transgrid operates – is a smaller portion of your total bill.

We have been and continue to upgrade the network to support the transition of the energy system to new, dispersed sources of renewable generation. As this work moves forward, you may see changes to your energy bill. Delivering this work efficiently helps reduce the risk of delays and helps manage costs over time, while keeping your electricity reliable. 

We’re evolving our regulatory and industry engagement approach in response to stakeholder feedback. This has consistently highlighted the need for earlier, more frequent and more structured engagement. In response, we’re engaging earlier in the planning cycle, increasing the frequency of interactions and broadening participation across the sector.

This approach builds on what we learned from previous regulatory periods, including early conversations with stakeholders to understand what matters most before developing the detailed plan.

Our objectives are to:

• Improve transparency about energy cost drivers and investment decisions
• Test assumptions, methods and proposed investments
• Incorporate your perspectives into the development of the plan
• Support a balanced outcome across cost effectiveness, reliability and system needs.

We will clearly distinguish between areas within our control and those shaped by broader policy and regulatory frameworks. We will also report back on how feedback has influenced the plan.

We will also rely on input from our advisory groups, who play an ongoing role in shaping and testing our approach.

We’re directly engaging with residential consumers to complement industry and institutional perspectives.

The main opportunity for public input will be during consultation on the Draft Plan, expected in September 2026. The Draft Plan will set out what we’ve heard so far and how feedback has shaped our approach.

When the Draft Plan is published, interested parties will be invited to provide a submission before we finalise our proposal to the AER.

This will be an important opportunity for consumers, communities, industry and other stakeholders to review the Draft Plan and provide feedback.

Read the complete Revenue Proposal 2028-2033 (RP4) Engagement Plan.

For more information on the regulatory reset process, please contact Patrick Duffy on patrick.duffy@transgrid.com.au.