Australia’s largest owner of high-voltage power grids wants consumers to pay for most of the $1.5 billion cost blowout on a major new transmission project, in a move that would increase household bills and could undermine public support for the energy transition.
Transgrid, which is owned by seven foreign and domestic infrastructure and pension funds, has asked the energy regulator to add $1.1 billion of the cost overrun onto the capital expenditure already allowed for on the 900 kilometre power cable being built between South Australia and its home state of NSW.
