2024-29 Regulatory Proposal

The Australian Energy Regulator (AER) sets the revenues and prices for the distribution network services provided by Essential Energy, in accordance with the National Electricity Rules (NER).

We submitted our 2024-29 Regulatory Proposal and Tariff Structure Statement (TSS) to the AER in January 2023. This outlines how we will operate and maintain our network along with proposed capital investments, and the costs needed to do so, over the five years from 1 July 2024.

Customer consultation

Consultation with more than 400 people helped us to identify key customer and stakeholder priorities. This consultation was conducted virtually while COVID-19 restrictions were in place. When it was safe to do so, we ran face-to-face forums in Broken Hill, Dubbo, Wagga Wagga, Ballina, Taree, Inverell and Bega.

Investments planned from 1 July 2024 take these priorities into account. They include:

  • $317 million to begin building network and community resilience to extreme weather events, including the strategic deployment of fireproof composite power poles, microgrids and StandAlone Power Systems
  • $171 million in new systems and technologies which will allow customers to export and access more renewable energy and reduce greenhouse gas emissions by more than 160,000 tonnes of carbon dioxide equivalent over the regulatory period.

Our investments in electric vehicles and solar panels on depots will also provide savings in operational expenditure and a reduction in our operational emissions.

Tariff trials

We have also been working in partnership with retailers Red Energy and DiscoverEnergy, in launching trial tariffs for low voltage residential and small business customers. The trials were designed to test customers’ response to price signals reflecting the network costs of using energy. The findings of these trials will inform our revised TSS for the 2024-29 regulatory period.

Next steps

The AER released its Draft Determination in October 2023. Essential Energy will submit a revised proposal and TSS, before the AER makes its Final Determination in April 2024.