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The Victorian Government is introducing new legislation into the Victorian Parliament in early 2024 to establish the Victorian Transmission Investment Framework (VTIF).
Core elements of VTIF
The new framework has 5 core elements:
- A Victorian transmission planning objective that incorporates environmental objectives and the State’s needs in response to the transition to renewable energy.
- A planning process for new major transmission infrastructure and REZs that looks ahead to the next 25 years. As a result of this process, a Victorian Transmission Plan will be published every four years. This plan will prepare Victoria for a range of possible future energy scenarios to minimise the risk of under-investment (not being prepared) and over-investment (building more than necessary).
Importantly, Traditional Owners, local communities, landowners and other regional stakeholders will feed into this planning process early, well before determining transmission routes.
- A new approach to specifying and procuring projects to meet Victoria’s transmission needs, ensuring timely delivery and value for money.
- New access arrangements are designed to encourage more renewable energy developers into Victorian REZs, making it easier for new projects to connect to the grid and providing greater certainty that renewable electricity generated can get to homes and businesses where it is used.
- Place-based approaches to engagement and benefits for Traditional Owners, local communities and landowners. The focus is on collaborative, long-term approaches to build thriving communities delivered in a defined geographic location.
The new framework was developed following public consultation in 2022, demonstrating broad support for change.
VicGrid is developing a comprehensive legislative and regulatory reform package to implement the new framework. This will involve a range of consultation activities during 2023 and 2024.
VicGrid is also progressing with developing the first Victorian Transmission Plan by mid-2025.
To learn more about the framework and the next steps, visit Engage Victoria.
Page last updated: 17/11/23