Transgrid has welcomed commencement of the New South Wales Government’s Strategic Benefit Payments Scheme for new major transmission projects – which it said marks an important milestone acknowledging the vital role that landholders play in supporting the state’s renewable energy transition.
The scheme is now applicable to all eligible nation-critical transmission projects across the state following the New South Wales Minister for Energy’s recent approval of the Strategic Benefit Payment Guidelines.
Eligible projects led by Transgrid in various stages of development include EnergyConnect, HumeLink and VNI West transmission lines, which aim to reshape the National Electricity Market and provide access to more affordable and reliable renewable energy for millions of consumers.
Transgrid CEO, Brett Redman, said that landholders are critical to achieving Australia’s clean energy transition, and they deserve compensation that is commensurate with the impact of accommodating energy infrastructure on their properties.
“Transgrid proudly advocated for this additional compensation for landholders and we are pleased the scheme is now being implemented, with payments coming into effect after major transmission infrastructure is built and energised,” he said.
“Eligible landholders along the western section of EnergyConnect will begin receiving their first payments after 1 July 2025, following energisation of two new transmission lines from Buronga to the South Australian border and into Victoria.
“The scheme is a great outcome for landholders and regional communities at the heart of our renewable energy transition and I congratulate the New South Wales Government for its successful implementation.”
The scheme provides annual payments of $10,000 (in 2022 dollars) per year, per kilometre of transmission line across eligible land over a period of 20 years, adjusted for inflation based on the Consumer Price Index.
Payments under the scheme are in addition to the Land Acquisition (Just Terms Compensation) Act 1991 payments to landowners for transmission easements on their land, ensuring they share directly in the benefits of these new transmission projects.
Transgrid’s major projects are set to provide a wide range of social and economic benefits for regional communities across New South Wales, including jobs, education and training opportunities, support for local businesses and community grants and partnerships.
For more information about the Strategic Benefit Payments Scheme visit Transgrid’s website.
