Endeavour Energy releases Draft Regulatory Proposal for 2024-2029

Key points

• Draft Proposal co-designed after 18 months of engagement with customers, listening to their needs and priorities.
• Outlines plans to deliver power supply over the coming five years, including investments in building and maintaining the network, customer service and proposed tariffs.
• Strikes the best possible balance between dependability, value for money and efficient investments in innovation to serve customers’ long-term choices and interests.

Sydney 28 October 2022: Endeavour Energy today released its Draft Proposal 2024-2029 after 18 months of engaging with customers and stakeholders to develop plans that address their needs and priorities.

“We have undertaken our most comprehensive engagement program ever to develop this Draft Proposal for the 2024-2029 Regulatory Period,” said Endeavour Energy’s Chief Executive Officer Guy Chalkley.

“It balances affordability with investments that deliver the reliable, resilient, and modern energy service our customers have told us they want.

“We engaged with 1,459 customers and 334 informed stakeholders and customer advocates to deliver a Draft Proposal that responds to our customers preferences, to deliver a service that is dependable, affordable and adopts innovation to enable our customers’ long-term choices and interests.”

Mr Chalkley said the Draft Proposal and engagement program were co-designed with a panel of independent stakeholders representing Endeavour Energy’s diverse customer base.

“We’ve collaborated with an Independent Members Panel which has continually challenged us over the past 18 months to demonstrate how our plans reflect what customers and stakeholders want.

“While affordability has been our focus, we know that the energy transition provides both significant challenges and opportunities for our customers and for the community.

“We’ve aimed to strike the best possible balance between dependability, value for money and efficient investment innovations that serve our customers’ long-term choices and interests.

“This includes investment in the outcomes that customers most value, improving network resilience and new technologies that enable them to participate affordably in the clean energy transition.”

“The result is a measured and affordable proposal that our customers and customer advocates have supported.”

Mr Chalkley said that while the public release of the Draft Proposal was a significant milestone in listening to customers and stakeholders, it did not signal an end to the revenue reset process.

“We encourage all our stakeholders to carefully consider our Draft Proposal and continue to engage with us as we refine the draft to lodge our Regulatory Proposal to the AER in January 2023,” Mr Chalkley said.

The Draft Proposal and all of Endeavour Energy’s regulatory engagement reports are available at https://yoursay.endeavourenergy.com.au/.

Media contact: Peter Payne 0409 664 608

Background

Every five years, Endeavour Energy is required to submit a plan to the Australian Energy Regulator (AER) that details our proposed and service delivery and prices for the next five-year period.

This Draft Proposal covers the period 1 July 2024 to 30 June 2029 and needs to be submitted to the AER by January 2023.

About Endeavour Energy

Powers the lives of more than 2.6 million people, living and working in Sydney’s Greater West, the Blue Mountains, Southern Highlands, Illawarra and South Coast of NSW.

Its network includes Australia’s third largest one of the fastest growing regions in Australia, with over 2.8 million people and businesses living in Sydney’s Greater West by 2029.

Network charges for a safe, reliable, and affordable electricity supply make up 30 cents of every dollar of your electricity bill. These costs are the second lowest (per unit of electricity served) in the National Electricity Market.

We are working with our customers to support the transition to a modern grid, where solar, batteries, microgrids and smart meters will enable the shift to a low carbon environment.