The NSW Government has introduced a Bill to Parliament to amend the Electricity Infrastructure Investment Act 2020 (EII Act) to accelerate the delivery of critical network infrastructure that will keep the lights on and the grid stable.
If adopted, the proposed amendment will give the Minister for Energy the powers to streamline regulatory processes and direct network operators to deliver high-priority projects like synchronous condensers.
This will bring projects online sooner to keep the lights on and help avoid electricity price spikes, securing more benefits for electricity customers across NSW.
The changes would also provide greater certainty and clarity on the development of projects that are essential for replacing ageing coal-fired power stations and meeting legislated emission reduction targets.
Rolling out projects in a timely way is crucial to ensuring electricity reliability, system security and affordability across NSW.
The systems and safeguards that protect the interests of consumers and provide a clear and efficient regulatory framework for network operators and generators under the EII Act remain unchanged.
These changes add to the existing levers available to the NSW Government, including the recently announced new firming tender to help bridge reliability gaps.
Attributable to Minister for Climate Change and Energy, Penny Sharpe:
"As coal fired power exits, these laws will make sure priority projects are delivered on time, to keep the lights on.
"The NSW Government is committed to delivering the Electricity Infrastructure Roadmap, ensuring a secure, reliable and affordable energy system for our state."
