A new Strategic Benefit Payments Scheme to facilitate the implementation of a modern electricity grid is set to benefit NSW landowners hosting electricity transmission lines.
Private landowners in NSW would get $200,000 per kilometre of new transmission infrastructure hosted on their property under the NSW Government initiative. Payments will be made in 20-year yearly instalments adjusted to the CPI.
Deputy Premier and Minister for Regional NSW Paul Toole said the scheme will be the first in Australia and acknowledges the NSW Government’s dedication to establishing a cutting-edge electrical infrastructure that maximises advantages for homes and communities.
“Building new transmission infrastructure is critical to connecting renewable energy sources to the grid, and most of this new infrastructure will be built in regional NSW,” Deputy Premier Toole stated.
The Deputy Premier added that supporting landowners and regional communities that host this infrastructure will assist NSW in constructing the network required to assure energy security, supply, and affordability for people across NSW.
“NSW has the most ambitious renewable energy policy in the nation, which is needed to replace the State’s ageing coal-fired power stations and build a clean energy future for NSW,” Deputy Premier Toole said.
According to Minister for Energy Matt Kean, maximising the economic benefits of this new infrastructure and assisting regional communities are critical components of the NSW Government’s Electricity Infrastructure Roadmap and the effective implementation of the Renewable Energy Zones.
“The scheme is part of our commitment to share the benefits of a reliable, clean and affordable energy grid with the landowners who will have a vital role in supporting the delivery of critical transmission infrastructure that will make this possible,” Minister Kean said.
Minister Kean stated that the scheme is a big win for landowners across NSW, nearly doubling the average amount they receive. The Minister added that the rate of the payments would be determined in the same way regardless of where landowners reside, ensuring that all landowners are treated similarly under the plan.
The scheme will be applied to new significant transmission projects vital to energy transformation and grid security, such as the Central-West Orana Transmission Project, Project EnergyConnect, HumeLink, the New England Transmission Project, and the Hunter Transmission Project.
Payments under the system are distinct from and in addition to the one-time upfront compensation granted to landowners in compliance with the Land Acquisition (Just Terms Compensation) Act of 1991.
