The Energy Corporation of New South Wales (“EnergyCo”) is responsible for the planning and delivery of REZs in the state and needed to establish how to best negotiate with multiple stakeholders to build a case for regulatory approval of their project, while also trying to finalise a deal with the preferred contractor under tight timelines. FTI Consulting was engaged in December 2022 to help EnergyCo navigate the approval of the Central-West Orana REZ and to facilitate the connection of new renewable energy generation that is expected to deliver over AU$3 billion in net benefits to NSW electricity consumers.
This first-of-its-kind project was approved in June 2024 and is expected to be delivered by 2030, contributing to the emission-reduction targets of the NSW and Australian governments. The project will bring long-term financial benefits to both NSW electricity consumers and the local communities that will host the Central-West Orana REZ, improve the reliability and security of NSW electricity supply and create approximately 5,000 new construction jobs.
Achievement of this milestone provides confidence in the ability of the NSW Government to deliver REZs and attract the necessary investment to the state, which is critical to achieving both state and national emission-reduction targets.
The Central-West Orana was the first REZ to be declared in Australia. FTI Consulting established that the project would deliver significant financial benefits to NSW electricity consumers and local communities, contributing to economic growth and employment opportunities.
FTI Consulting experts worked in a strategic role, supporting EnergyCo in navigating a complex, new regulatory environment in their role as the Infrastructure Planner.
FTI Consulting assisted EnergyCo in designing a framework to assess whether different options for the REZ were in the best interest of NSW electricity consumers, would contribute to the reliable and secure delivery of electricity services and would gain local community support.
FTI Consulting experts worked with stakeholders across government, regulators, private sector developers, network service providers and local communities to gain support for EnergyCo’s recommendation.
Our team helped draft the recommendation to seek the necessary regulatory approval, as well as the summary of the recommendation for public release.
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