The AER made the SIPS Service revenue determination for Transgrid under the Electricity Infrastructure Investment Act 2020 (NSW) on 14 December 2022. This revenue determination included 12 adjustment events/mechanisms that allow for changes to the schedule of payments over the project term.

On 28 March 2025, Transgrid submitted to the AER a revenue adjustment proposal to reflect the occurrence of Adjustment event 11: Delay in achieving Commercial Operation. This results in a reduction to the amount payable to Transgrid over the project term triggered by Akaysha Energy’s delay in achieving the Commercial Operation date. 

We have assessed the revenue adjustment proposal in accordance with the Electricity Infrastructure Investment Regulation 2021 (NSW) and are satisfied that:

• the trigger for Adjustment event 11 has occurred, 
• the proposal accurately calculates the adjustment to be applied to the schedule of payments, and
• the adjustment has been carried out in accordance with our Revenue determination guideline for NSW contestable network projects (Guideline) and the contractual arrangements entered into by Transgrid, 

Therefore, we have reduced the amount payable to Transgrid under the SIPS Service revenue determination. 

We have decided not to publish the updated schedule of payments consistent with our previous decisions on the Waratah Super Battery project. However, we will publish an update of the aggregated revenue for the contestable components of the Waratah Super Battery project at a later date.