Energy Networks Australia (ENA) welcomes the release of the Australian Energy Market Operator’s final 2024 Integrated System Plan (ISP), showing that the grid requires significant reconfiguring to keep pace with the volume of renewable energy coming online.

The plan identifies almost 10,00 0km of new transmission lines that are required by 2050 to connect new sources of generation and meet reliability targets at the lowest cost to consumers.

Transmission businesses have already completed some of these projects and are rapidly planning and building further key transmission links in collaboration with the communities that will host the new infrastructure.

ENA CEO Dom van den Berg said there is an obvious and timely need to continue to deliver vital transmission projects to ensure we are connecting renewable energy and taking it from where it is generated to where it is needed.

“When it comes to the grid, we are at the cusp of a once-in-a-generation transformation, which is not without challenges,” Ms van den Berg said.

“However, the net benefits of this new transmission investment are $22 billion. This means that every dollar invested in new transmission infrastructure will be paid back to customers at least two-fold.

“The ISP also acknowledges the significant value that well-coordinated consumer energy resources (CER) will play in the transition, whilst also saving billions of dollars in cost for consumers.

“Australia’s transmission and distribution networks are acutely aware of the significant role they play in getting the transition right,” she and. “This ISP acknowledges the transformative work they are doing, and need to continue doing, which is the lowest-cost way to supply electricity to homes and businesses as Australia transitions to a net zero economy.

“The role for gas is also identified as critical for backing up renewable generation.

“With coal rapidly aging out of our energy system, we need to get on with this significant program of work and not be distracted from the task at hand,” Ms van den Berg said.

Timeframes to deliver transmission and utility scale generation, while meeting emissions targets, are tightening and will need significant coordination to ensure streamlined planning and investment processes.

ENDS

Media Contact: Claire Ginn, 0409246966

Energy Networks Australia is the national industry body representing Australia’s electricity transmission and distribution and gas distribution networks. Our members provide more than 16 million electricity and gas connections to almost every home and business across Australia.