NSW landowners who host electricity transmission lines are set to benefit from a new Strategic Benefit Payments Scheme designed by the NSW Nationals in the state government to support the rollout of a modern electricity grid.
Under the scheme, private landowners will receive $200,000 per kilometre of new transmission infrastructure hosted on their land, paid out in annual instalments over 20 years, indexed to CPI.
Deputy Premier and Minister for Regional NSW Paul Toole said the scheme will be the first of its kind in Australia and recognises the NSW Government’s commitment to building a modern electricity grid that maximises benefits for communities and households.
“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,” Mr Toole said.
“Supporting landowners and regional communities who host this infrastructure will help us build the network we need in time to ensure energy security, supply and affordability for families across NSW.”
This is a huge win for landowners across NSW that will almost double the average payment they currently receive, and the rate of the payments will be calculated in the same way regardless of where people live to ensure all landowners are treated equitably.
The scheme will apply for new major transmission projects critical to the energy transformation and future security of the energy grid, including the Central-West Orana Transmission Project, Project EnergyConnect, HumeLink, the New England Transmission Project and the Hunter Transmission Project.
Payments under the scheme are separate, and in addition to, the one-off upfront compensation paid to landowners for the acquisition of transmission easements in accordance with the Land Acquisition (Just Terms Compensation) Act 1991.
Further information on the Strategic Benefit Payments Scheme is available at https://www.energyco.nsw.gov.au/community/strategic-benefit-payments-scheme