Queensland’s Transmission Network Service Provider Powerlink has received a Draft Decision from the Australian Energy Regulator (AER) on its 2023-27 Revenue Proposal that will see Queensland families and businesses save on their electricity bills.
Powerlink Chief Executive Paul Simshauser said it was Powerlink’s objective to lodge a Revenue Proposal that was capable of acceptance by customers, the AER and ourselves.
"Today’s announcement builds off two years of pushing our business to drive more value and deep engagement with customers," Mr Simshauser said.
"Powerlink’s Revenue Proposal balances the needs of Queensland families and businesses as our state continues to recover from COVID-19, with sufficient investment in our network to ensure it remains safe, secure, reliable and cost-effective now and into the future."
The AER accepted all key aspects of Powerlink’s 2023-27 Revenue Proposal, including capital and operating expenditure forecasts for the regulatory period, and commended Powerlink’s engagement approach.
"We intentionally set out to do things differently and build more trust with customers and stakeholders," Mr Simshauser said.
"The AER’s Draft Decision gives us a high degree of certainty of what our 2023-27 regulatory allowances will likely be, so we can continue to plan our works for the coming years, identify and drive areas of improvement and get on with the job of delivering world-class transmission services to Queenslanders.
"We hope that our approach highlights what can be achieved when customers are placed at the centre of our business and made an important part of our decision-making processes."
Mr Simshauser said Powerlink would continue to engage with customers and stakeholders on its Revised Revenue Proposal, which is due by 3 December 2021, and was likely to accept the majority of elements in the AER’s Draft Decision.
Under the Draft Decision, Powerlink’s contribution to the annual nominal electricity bill for the average residential and small business customer would decrease by 9% ($12 and $17 respectively) in the first year of the next regulatory period and then on average increase in line with forecast inflation (2.25%) in remaining years.