TransGrid Advisory Council meeting November 2017

The fourth TransGrid Advisory Council meeting for 2017 was held on Wednesday 8 November at TransGrid’s Ultimo Office. The meeting completed the first full cycle of TransGrid’s Advisory Council. 

The meeting focussed on key issues facing the energy industry, including the newly announced National Energy Guarantee, preparation within NSW for the upcoming summer period, and the release of the Australian Competition and Consumer Commission’s preliminary report on its inquiry into retail electricity pricing. TransGrid also presented to the Council on the Australian Energy Regulator’s draft decision on TransGrid’s Revenue Proposal, feedback received from TransGrid’s Revenue Proposal Working Group, and sought guidance on approaches for TransGrid’s Revised Revenue Proposal.

Key points from the Advisory Council meeting include:
  • The Advisory Council thought that TransGrid should ensure that it is communicating the value of its services, ensuring that customers are aware of the value that the transmission service component of their bill is providing them.
  • Australian Industry Group presented on the newly announced National Energy Guarantee to the Council. Both TransGrid and the Council agreed that it was important that the energy sector provide the best possible opportunity for the newly announced policy to be further explored and developed.
  • Discussing Summer Readiness and TransGrid’s preparations, the Council identified the need for greater awareness and engagement within the community around preparing for the upcoming summer period.
  • TransGrid presented to the Council on its current thinking regarding its Revised Revenue Proposal, including an overview of the discussion that was had with TransGrid’s Revenue Proposal Working Group. TransGrid sought the Council’s guidance on how best to respond to the Australian Energy Regulator, particularly regarding the Powering Sydney’s Future Project (PSF). The Council endorsed TransGrid’s proposal for a revised approach to the PSF project, recognising the need for a solution to ensure the continued security of the electricity supply to Inner Sydney, and called for TransGrid to continue to work with the Australian Energy Regulator on this matter.
  • TransGrid further discussed with the Council it’s thoughts on changes needed within the regulatory framework, identifying key areas of focus to ensure the adoption and implementation of the Finkel recommendations. The Council support TransGrid’s areas of focus and showed interest in working with TransGrid in 2018 on identifying mutually beneficial areas in which to partner to ensure that the National Electricity Rules best reflect the needs of consumers and industry.