ElectraNet - Update to Project EnergyConnect contingent project application - 24 November 2020

On 24 November 2020, ElectraNet submitted an update to its contingent project application after reaching agreement with the South Australian Government to undertake a range of early works in order to advance the delivery of the project. ElectraNet’s update outlines a revised date for project completion of 31 March 2023, 9 months earlier than previously identified, and a consequential change in the timing of the capital expenditure and revenue required to deliver the project. As a result of these timing changes, ElectraNet’s forecast of total capital expenditure for the contingent project application is slightly reduced to $469 million, and is expected to be incurred entirely within the 2018-23 regulatory control period.