2028-2033 Revenue Proposal

The draft plan sets out how we propose to balance affordability and reliability with the changing needs of the energy system.

The plan is part of the development of Transgrid’s Revenue Proposal for 2028-2033, also known as RP4. It sets out how we propose to invest in the transmission network over the next five-year regulatory period.

The plan has been shaped by extensive input from consumers, advocates, customers, industry and government. We're now inviting consumers and stakeholders to provide feedback on the draft plan before finalising the Revenue Proposal for submission to the Australian Energy Regulator (AER) – the independent body that reviews electricity networks across Australia, except Western Australia.

Read the draft plan overview

Read the Revenue Proposal 2028-2033 (RP4) Draft Plan

Email your feedback

Please provide feedback by 30 October 2026.

Electricity supports everyday life, essential services, communities and industry across NSW and the ACT.

The energy system is changing. More renewable generation is connecting to the grid, electricity demand is evolving, and the network must remain safe, secure and reliable while costs are carefully managed.

Our draft plan sets out how we propose to respond between 2028 and 2033. It brings together the work and investment needed to maintain ageing assets, manage emerging risks, respond to changing demand and prepare the network for the future.

Every investment involves choices and trade-offs. That's why we engaged early and widely to understand what matters most to consumers and stakeholders, where there is support for investment and where proposals need to be challenged or refined.

Every five years, Transgrid prepares a detailed Revenue Proposal that outlines the investment needed to operate,maintain and develop the transmission network.

Our draft plan reflects five important outcomes for consumers:

1. Fair and affordable

Making disciplined investment decisions, managing costs and delivering value for money while maintaining the services consumers rely on.

2. Open and accountable

Explaining costs, benefits, uncertainties and trade-offs clearly, and showing how feedback has influenced our decisions.

3. Shaped by consumers

Using input from consumers, advocates, customers and stakeholders to test assumptions, set priorities and improve the plan.

4. Safe, secure and reliable

Maintaining a dependable network in the face of ageing assets, extreme weather, changing system conditions and evolving cyber risks.

5. Ready for tomorrow

Preparing for changing electricity demand, increasing electrification and a system powered by more renewable energy.

Read the draft plan overview

Watch the video to hear how feedback informed key decisions and priorities.

We combined technical analysis and business planning with extensive engagement across the energy sector. We sought input from:

• Residential consumers
• Consumer advocates
• Directly connected customers
• Industry representatives
• Governments and regulators
• Transgrid subject matter experts and employees

Our advisory groups also informed the draft plan:

• The Consumer Advisory Group, which replaced the Transgrid Advisory Council (TAC) in 2026,provides independent consumer-focused advice to inform Transgrid’s decision-making.
• The Consumer Working Group (CWG) provides more detailed input on specific investments, assumptions and engagement processes.

This work helped us test network needs and forecasts, examine options and understand consumer priorities. We consistently heard the importance of affordability, reliability, fairness and transparency.

We used this feedback to challenge the plan and strengthen how we explain the choices within it. In particular, feedback helped us:

• Focus investment on the areas expected to deliver the greatest benefit to consumers
• Challenge and refine proposed expenditure
• Make greater use of existing assets where this is safe and efficient
• Provide clearer information about costs, benefits, uncertainties and trade-offs
• Balance near-term affordability with the network's long-term needs

The draft plan explains what we heard, the decisions we made and the areas where feedback led to change. It also identifies the matters that remain open for input.

Transgrid cannot set its own prices.

The AER independently assesses our plan, including:

• The work proposed
• The associated costs
• The expected impact on consumers

The AER applies the National Electricity Rules and determines the maximumamount of revenue Transgrid can earn from customers during the regulatory period. Its assessment considers whether proposed expenditure is efficient, prudent and in consumers' long-term interests.

Transmission is one part of your electricity bill. Other components include electricity generation, local distribution networks and retail services. 

Investment in the transmission network can affect bills over time. The effect will depend on the AER's final determination and other parts of the energy supply chain. Our responsibility is to put forward a plan that maintains safe and reliable services, responds to changing system needs and represents long-term value for consumers. 

The draft plan provides detailed information about forecast expenditure, expected benefits and potential bill impacts so consumers and stakeholders can assess the choices we are proposing.