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Victoria-New South Wales Interconnector Funding Approved
Funding for the Victoria-New South Wales Interconnector (VNI Minor) has been approved by the Australian Energy Regulator (AER), which will play a significant role in bolstering the electricity supply following the closure of Liddell Power Station in August 2023.The Australian Energy Market Operator’s (AEMO) 2020 Integrated System Plan (ISP) identified VNI Minor as a project required to address cost, security and reliability issues in the National Electricity Market.AER Chair, Clare Savage, said, “VNI Minor was proposed by AEMO in their role as the national planner responsible for identifying new transmission needs to support the energy system’s transition.“In our role, we’ve assessed TransGrid’s proposed costs and determined that they are reasonable. The AER has approved the $45 million that is needed to deliver the project.“The project will increase transmission capacity between New South Wales and Victoria and provide consumers with secure and reliable energy supplies.”VNI Minor is the first ‘actionable project’ to progress under new rules governing the ISP and the AER’s decision is the final stage in the regulatory process.The new rules require the AER to assess the prudence and efficiency of the costs of delivering the option found to offer the highest net market benefits in AEMO’s ISP.The AER’s decision amends TransGrid’s existing 2018-23 revenue determination to account for the costs of delivering the project.Average residential customers in New South Wales will pay an estimated extra $1 on their bills in 2022-23 as a result of this decision.TransGrid Project Director, Dany Gittani, said, “The VNI Minor project will allow more energy to flow between the two states and help lower the cost of wholesale electricity across the National Electricity Market.“The VNI Minor project involves TransGrid installing ‘smart wires’ power flow controller technology within our Stockdill substation in the ACT.‘Smart wires’ technology enables the real-time control of electricity flows along powerlines. The system detects areas of congestion in the network and automatically redirects flows to less congested lines, under certain network scenarios. It will allow more energy to be transferred between Victoria and NSW.“The AER decision enables us to deliver the project to fruition this year.”
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Victoria's West Gate Tunnel Delayed by Two Years
This week Transurban has told shareholders that the West Gate Tunnel is running two years behind schedule. The $6.7 billion project which was due for completion in time for the Victorian State Election in 2022, won't be complete until 2024.
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Contracts Awarded for Princes Highway Duplication
The Federal and Victorian Governments have awarded construction contracts for the final 43km of the Princes Highway duplication between Traralgon and Sale in eastern Victoria.To provide more opportunities across the construction industry, the project will be delivered concurrently through a trio of construction partners including Laing O’Rourke, Whelans Group Investments and BildGroup.Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development, Michael McCormack, said the $253.3 million project would duplicate the remaining sections of the Princes Highway East at Flynn and Kilmany and will result in better connections and a safer road while supporting hundreds of jobs.“Ensuring the Princes Highway East is fully duplicated between Traralgon and Sale will not only mean significant safety benefits to the Gippsland community, but it will also increase the employment and connectivity of the region,” Mr McCormack said.“This project will create over 100 jobs and with flow on benefits for 160 workers in the civil construction industry.”Victorian Minister for Transport Infrastructure, Jacinta Allan, said the works, which include adding two additional lanes, creating two lanes in each direction with a centre median, will improve local road and private access to the highway.“Once complete, the project improvements will create a safer journey to around 15,000 motorists who use the road each day travelling between Traralgon and Sale,” Ms Allan said.“Construction will include strengthening of the existing highway, installing safety barriers, U-turn opportunities and upgrading six intersections including turn lanes.”State Member for Eastern Victoria, Harriet Shing, said the upgraded highway, which is a key link to a range of Gippsland tourist destinations including the snowfields and Gippsland Lakes, will mark a safer travel experience for holidaymakers and help recovery for the region’s tourism trade.“The final part of the upgrade will make travel safer for day-trippers and holidaymakers, helping the region to recover from the devastating bushfires, through a much-needed increase in tourism,” Ms Shing said.State Member for Eastern Victoria, Jane Garrett, said not only was it great to see the project a step closer to commencement, but it was also great to see the way the project would be delivered with more opportunities provided for local jobs.“Our new approach to delivering these projects not only means we see vital projects like this delivered sooner – but more opportunities for local construction companies to access the project, providing the opportunity to deliver more jobs at a time our community needs it most,” Ms Garrett said.The $253.3 million Princes Highway East – Complete the Duplication between Traralgon and Sale project is jointly funded, with the Federal Government committing $202.6 million and the Victorian Government $50.7 million.The full duplication between Traralgon and Sale project is anticipated to be complete by mid-2024.
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