The Victorian government has announced additional payments for a typical area of transmission easement at a standard rate of $8,000 per year per kilometer of transmission hosted for 25 years.
In addition to any existing payments made for transmission easements under the Land Acquisition and Compensation Act of 1986, the new payments will be made for transmission projects under the Integrated System Plan (ISP) and Victorian Renewable Energy Zone (REZ).
Other significant projects like the Victoria–Tasmania Marinus Link project and transmission links connecting Victoria’s Renewable Energy Zones (REZs), will provide an equitable approach for projects across the Victorian-NSW border as future offshore wind projects.
“These new payments acknowledge the hugely important role landholders play in hosting critical energy infrastructure – a key part of Victoria’s renewables revolution,” said Victoria’s Minister for Energy and Resources Lily D’Ambrosio.
“We want to get the process for planning and approving new infrastructure right, so we can make sure the renewables revolution is a shared, equitable legacy for all Victorians.”
The Australian Electricity Market Operator (AEMO) earlier this week issued a warning that, without immediate investments to replace coal plants, the grid’s stability would be in doubt for the following ten years.