DELIVERING ON OUR PROMISES: POLES AND WIRES LEASE REACHES MAJOR MILESTONE

The NSW Government’s $20 billion plan to transform the State is a step closer with the poles and wires lease reaching a major milestone, Treasurer Gladys Berejiklian has announced.

“Today, we will receive binding bids for TransGrid, which marks the final stage of the electricity transaction, and tomorrow we are launching expressions of interest for the partial lease of Ausgrid,” Ms Berejiklian said.

“This marks a major milestone in our Rebuilding NSW plan and shows yet again that the Liberals & Nationals Government delivers on its promises.”

The Government’s plan to lease 49 per cent of the State’s electricity networks will unlock $20 billion which will be invested into new roads, rail, hospitals and schools, new sports and cultural facilities, and vital water infrastructure for regional NSW.

“We have worked hard over the year to deliver on our $20 billion infrastructure package and this week, we are taking a big step towards honouring that commitment,” Ms Berejiklian said.

The Treasurer said the NSW Government will now evaluate bids for TransGrid.

“The TransGrid transaction process has already shown there is very strong market interest in regulated electricity distribution and transmission assets,” she said.

“I am confident the long-term lease of Ausgrid will deliver significant value for the people of NSW.”

The NSW Government expects to launch expressions of interest for Endeavour Energy, the third and final of the electricity assets to be leased, in 2016.