Energy Networks Australia has welcomed the final approval by the Australian Energy Regulator (AER) for the Queensland-New South Wales Interconnector (QNI) project.

The TransGrid project, with input from Powerlink, involves upgrades to substations, transmission towers and lines between Queensland and NSW and is expected to provide net benefits of $170 million to electricity customers and create 150 jobs during construction.

The AER cited avoiding energy bill increases due to the closure of the Liddell power station as one of the reasons the project was approved.

Energy Networks Australia CEO Andrew Dillon said the project would increase the efficiency and capacity of electricity transmission lines between NSW and Queensland.

“A more efficient transmission system can deliver benefits to the entire National Electricity Market,” Mr Dillon said.

“Increased grid capacity creates the opportunity to move cheaper electricity around the country, helping keep household bills down.

“We have already seen a significant drop in wholesale electricity prices in recent months, with networks continuing to deliver an efficient system with stable prices.

“Customers need bill relief now more than ever, so it is important these wholesale price reductions are passed through without delay.

“A more interconnected system is a more stable, reliable and efficient system.”

Energy networks have announced relief measures to support customers in hardship. Visit www.energynetworks.com.au/COVID-19 for more information. If you are experiencing hardship, please contact your energy retailer.