1,500 jobs created - $4 billion economic injection - Increased renewables
A proposed NSW-SA electricity interconnector that will reduce electricity bills for NSW customers by $180 million a year was announced by its proponents TransGrid and ElectraNet today.
The project will allow the free flow of electricity between NSW and SA for the first time in Australia’s history – plugging a gap in Australia’s energy system.
In addition, it will allow increased capacity for renewable generation and significantly improve reliability in both SA and regional NSW.
The 900 kilometre line will take approximately two years to complete, create 1,500 jobs during construction - most in regional NSW - and inject $4 billion into the domestic economy.
TransGrid CEO Paul Italiano said “EnergyConnect will lower NSW electricity bills by increasing competition in the wholesale electricity market and it will also create a more secure system that is resilient at times of high demand and in periods of extreme weather.
“EnergyConnect has significant benefits for the National Electricity Market (NEM) and for energy customers in both NSW and SA in particular.
“The project has already passed the Regulatory Test for new transmission projects and our modelling has shown electricity prices in both NSW and SA will fall as a result of increased competition in the wholesale electricity market.
“Recent modelling by the Australian Energy Market Operator has shown that SA faces a very serious risk of system instability as a result of high renewable penetration and low grid loads and that this risk will be substantially addressed by EnergyConnect.”
For more information, go to the Project EnergyConnect website.
Vision available, check Transgrid EnergyConnect Video
Michelle Stone 0438 293917