Building NSW’s proposed Renewable Energy Zones will inevitably involve more than the $32 billion of private investment by 2030 that was envisaged when the state’s energy infrastructure plan was announced in 2020.
It seems as if you’re taking over part of the function that perhaps was done on a national basis previously through the National Electricity Market or through the Australian Energy Market Operator. Is that a sign that NSW felt those systems weren’t working? NSW Treasurer and Energy Minister Matt Kean announced this week a big response to the first tender issued by the government for generation and storage projects under the infrastructure plan. How does that fit in the plan for the REZs?
The Act recognises that there are many projects across NSW and the auctions are NSW-wide. And that recognises that at the time the Act was passed, there were many projects developed and people put money in and many of them will be very meritorious projects.
Delays to the Snowy 2.0 project are adding to the challenge of transitioning to clean energy. Picture: Lobs Hole is the biggest construction site for Snowy 2.0. Lobs Hole is where the Main Access Tunnel , the Emergency Cable Ventilation Tunnel , the main camp accommodation and the main yard are located.We think what the [Electricity Infrastructure Investment] Act really did was much better align the long-term risks consumers bear in the industry, particularly in NSW, and its competitiveness.
The strategic benefit benefits payment was a really important step for those who farm pylons, not turbines. And that is just the first part of that strategy. The access scheme is also about having a community contribution and not an insignificant one.
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