Latest news with #Transgrid
ABC News
3 days ago
- Business
- ABC News
Power companies should pay compensation for blackouts, NSW parliamentary report finds
Electricity companies that breach their licenses should be forced to compensate customers, an inquiry into a prolonged blackout in Far West New South Wales has found. On the night of October 16 2024 seven transmission towers were knocked out when a severe storm hit the region. One of the two emergency diesel generators was not in service and the other was not operating at full capacity. As a result thousands of Broken Hill residents experienced persistent outages and the Wilcannia, Menindee, Tibooburra and White Cliffs communities were blacked out for weeks. Yesterday the state parliament's Committee on Environment and Planning handed down its report into the incident. Twenty recommendations were made, including allowing the electricity pricing regulator to order a network operator in contravention of its licence to compensate affected customers. The report found Broken Hill electricity supplier Transgrid failed to notify any government agency, regulator or council about the inoperable backup generator. But it also found there was "no clear legal obligation for Transgrid to proactively inform" any regulatory or government body about the situation. The inquiry also examined renewable energy sources in the region, including a large-scale battery system that was unable to be used to provide electricity locally. "It is nuts that you've got all that electricity generation in your own neighbourhood but you can't access it," committee chair Clayton Barr said. "If you're producing electricity in your own backyard and the power goes out, why can't you access it? "That's all a commercial and private business arrangement and it failed the community enormously." Microgrid backup systems for small towns where also suggested, which Mr Barr described as a "no-brainer". Broken Hill mayor Tom Kennedy said the community hoped the report would lead to accountability. "It can have devastating effects for a community … simply because there wasn't enough [redundancy] and power available for Broken Hill in a case of an emergency situation where we had a blackout," he said. "These recommendations will – or are attempting to – ensure this doesn't happen again and doesn't happen … anywhere in the state and, if it does happen, someone is held to account." The Australian Energy Regulator and the Indendent Pricing and Regulatory Tribunal are also conducting inquiries into the event. A Transgrid spokesperson said the company was "closely examining the findings and recommendations" of the report. "Transgrid also acknowledges the significant impacts the resulting outage had on the local community," they said. "We have been working with the community and local businesses to assist in the recovery, both through financial assistance in partnership with the NSW government as well as extensive community grants programs."
AU Financial Review
20-05-2025
- Business
- AU Financial Review
Transgrid deal shows why Future Fund's chequebook is better than most
Move over industry funds and Canadian pension funds, Australia's Future Fund is the apex predator in big domestic private-capital deals. In case we needed more proof, Future Fund's agreement to buy a 10 per cent stake in electricity transmission company Transgrid is a timely reminder that its chequebook is bigger, fatter and more open than just about anyone elses.
The Star
16-05-2025
- Business
- The Star
Hextar Capital associate bags RM427.5mil TNB contract
KUALA LUMPUR: An associate company of Hextar Capital Bhd has secured a RM427.5mil contract by Tenaga Nasional Bhd for the establishment of a transmission main intake (PMU) 500/275kV gas insulated substation (GIS) in Gurun East, Kedah. In a press statement, Hextar Capital said Transgrid Ventures Sdn Bhd, a joint venture with CD Electrical Engineering Sdn Bhd, will supply, install and commission the GIS, complete with all primary and secondary systems as well as associated civil works. The contract is scheduled for completion within 730 days from the commencement date. "This project marks another strategic milestone for Transgrid and reinforces its capabilities in delivering large-scale, mission-critical infrastructure projects within the energy sector. "It also reflects the confidence that TNB has in our engineering capabilities and further solidifies our role in supporting the national grid and the country's energy development," said Hextar Capital managing director Johnson Chang. He added that the project is expected to contribute positively to the group's mid-term performance and order book visibility. "This will be the first 500kV GIS project in Malaysia, and Transgrid is proud to be given the opportunity by Tenaga Nasional to design and build this maiden project. "It is a significant milestone that reaffirms our capabilities and track record in high-voltage substation infrastructure," said Transgrid CEO and managing director Datuk Sri Nantha.
