Transgrid has welcomed the NSW Government’s Strategic Benefit Payments scheme for new major transmission projects, which will support the transition to renewable energy and the supply of cheaper, cleaner and more reliable electricity for consumers.
25 October 2022
CEO Brett Redman said “Transgrid has been working closely with the NSW Government on the details of the proposal and we are pleased to see the Strategic Benefit Payments provided for landowners who host transmission assets.
“The payment will apply to private landowners hosting our major transmission projects EnergyConnect and HumeLink, as well as those landowners affected by any future projects such as VNI West, which are part of Transgrid’s energy superhighway, the Australian Energy Market Operator’s Integrated System Plan and Renewable Energy Zones.
“Transgrid’s overriding considerations have been to ensure that the payment is equitable for new transmission project landowners, addresses the social licence issues raised by them and balances these factors with the need to represent value for energy consumers,” said Mr Redman.
Under the scheme, private landowners in NSW will receive $200,000 per kilometre of new transmission infrastructure hosted on their land, paid out in annual instalments over 20 years, indexed to CPI.
These payments will be in addition to the “just terms” compensation paid to these landowners for transmission easements on their land and will ensure that they share directly in the benefits of these new transmission projects.
Transgrid media contact:
Michelle Stone 0438 293 917