South Australians are another step closer to cheaper and more reliable electricity with the release of a Project Assessment Conclusions report into the viability of an interconnector between South Australia and New South Wales.
“In welcome news, the report finds that the savings from the interconnector for South Australian households will more than double from the original estimates of $30 a year to $66 a year,” said Minister for Energy and Mining Dan van Holst Pellekaan.
“South Australian small businesses will receive an average annual savings of $132 per annum.
“Building an interconnector between Robertstown and Wagga Wagga will deliver hundreds of jobs during construction, as well as ongoing employment and investment as a flow-on effect of the project. We have been told by proponents of new renewable energy projects that it makes South Australia more attractive as a place to invest.”
The ElectraNet report is part of the Regulatory Investment Test for Transmission (RIT-T) and is a significant milestone as it will now be considered for approval by the Australian Energy Regulator (AER).
The RIT-T is an economic cost benefit analysis overseen by the AER that is required for all major network investment in the National Electricity Market.
“This interconnector is a nation-building project that will allow both states to export their excess energy to help bring down prices and improve security,” said Minister van Holst Pellekaan.
“The interconnector means we’re no longer on the end of the line. It will bring power, greater security, jobs, and increased investment opportunities for our abundant renewable energy.
“South Australia currently only has interconnection with Victoria which puts us at the end of the line and vulnerable to the type of risks we all know too well in South Australia.”
The Marshall Liberal Government is facilitating this vital infrastructure project by the: