Media Release

Essential Energy has submitted its 2024-29 Regulatory Proposal to the Australian Energy Regulator (AER), following a two-year program of customer and stakeholder engagement.

The Proposal outlines how Essential Energy will operate and maintain NSW’s largest electricity distribution network from 1 July 2024 to 30 June 2029 and includes plans to tackle key customer and stakeholder concerns, including realising the benefits of the energy transition and increasing community and network resilience.

Essential Energy’s Chief Corporate Affairs Officer, Anne Pearson said, “Essential Energy is transforming its business to adapt to the future, while continuing to deliver on customers’ priorities around safety, reliability, and affordability. We want to ensure that our network is both resilient and flexible enough to accommodate new and emerging technologies.

“Customers told us they want to see Essential Energy embrace the growth of renewable energy generation and storage, so we’re continuing to invest in new technologies and building smarter networks, like our recently launched network battery.”

Essential Energy engaged over 400 people in a multi-phased program of customer and stakeholder engagement, which commenced in July 2021.

“Our teams have worked collaboratively with customers and stakeholders right across our network footprint, from regional, rural and remote parts of NSW, to ensure we deliver a network fit for the future,” Anne added.

From 1 July 2024 we propose key investments including:

$317 million in community and network resilience to weather extremes, including strategic deployment of fireproof (composite) power poles, microgrids and stand-alone power systems

$171 million in new technologies to support customers access more renewable energy and increasing electrification such as increase uptake of electric vehicles (EVs), solar and batteries.

“We especially acknowledge and thank the valuable contribution from our customers and stakeholders in helping us develop a proposal that delivers a prudent steppingstone to the future of energy,” Anne concluded.

The Essential Energy 2024-29 Regulatory Proposal, Fact Sheet and Customer Overview documents are all available on our website

Background

Essential Energy submits its Regulatory Proposal to the Australian Energy Regulator (AER) every five years. The Proposal details our plan for the period including services and prices for the next five-year period, this Proposal covers the period 1 July 2024 to 30 June 2029. Once the AER has reviewed the Proposal, they will open it for public consultation.