Evoenergy's five year plan for the electricity network submitted

Evoenergy has submitted its 2024–29 electricity network proposal to the Australian Energy Regulator. The proposal has been prepared during a time of significant change across the energy sector. EvoEnergy’s electricity network currently provides around one third of the ACT’s total energy needs, but its net zero modelling shows this will triple to provide almost all of the Canberra's energy needs.

Key Highlight:

* The increase in network costs will be passed onto electricity consumers during the period of around $7 per year for an average residential energy user.

Original Press Release:

Feb. 1 -- Evoenergy issued the following news release:

Evoenergy has now submitted its 2024–29 electricity network proposal to the Australian Energy Regulator.

The proposal has been prepared during a time of significant change across the energy sector. Evoenergy General Manager Peter Billing said the ACT’s push toward electrifying transport and moving away from gas means Evoenergy will be required to distribute more electricity in the coming period than ever before.

“This week we submitted our proposal for how we plan to invest in and operate the electricity network in 2024–29. Our focus for the coming five years is to ensure we take steps toward a net-zero future whilst also playing our role in maintaining energy affordability,” said Mr Billing.

“We have engaged with customers, community groups and major customers about their needs and expectations of Evoenergy now and into the future, and it’s clear that achieving net zero emissions and reducing the impact of climate change is their top priority.”

“Energy users in the ACT have a strong expectation that we invest in the electricity network to continue to integrate a growing number of solar, batteries and electric vehicles, and take action to begin the electrification of our gas use.”

Mr Billing said Evoenergy’s electricity network currently provides around one third of the ACT’s total energy needs, however its net zero modelling shows this will triple to provide almost all of the ACT’s energy needs as gas use and transport is electrified, requiring a significant increase in investment.

“We have planned for additional investment which will result in an increase in the network costs that will be passed onto electricity consumers during the period of around $7 per year (plus the impacts of inflation) for an average residential energy user. We feel this increase is reasonable and balances the need for investment with the need for stable cost.”

“The work we’re planning in the coming five years will be a crucial next step in what will be a transformational energy journey over the next two decades.”

The Australian Energy Regulator will review Evoenergy’s proposal, consult with stakeholders and release their draft decision in September 2023.

Background

Every five years, Evoenergy is required to submit to the Australian Energy Regulator (AER) how much it plans to spend operating, maintaining and investing in the electricity network and how these costs should be recovered from electricity consumers. Evoenergy’s proposal for the period from 1 July 2024 to 30 June 2029 will be submitted to the AER in January 2023. The AER will review Evoenergy’s proposal and release a draft decision in September 2023. Evoenergy will then submit a revised proposal in December 2023 which will be followed by a final decision from the AER in April 2024.

For more information or visit the Australian Energy Regulator’s website or www.engagewithenergy.com.au

Source: Evoenergy

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