In 2017 the Australian Energy Market Operator (AEMO) commenced a Regulatory Investment Test for Transmission (RIT-T) to identify the most economical way of addressing limitations in the western Victoria transmission network.
The RIT-T is a regulatory process under the National Electricity Rules that requires AEMO to apply an economic cost-benefit test on new transmission network investment proposed for the National Electricity Market (NEM). It is designed to identify the option that delivers the highest net economic benefits to all those who produce, transport and consume electricity in the NEM, in the long-term interests of Australian energy consumers. The RIT-T process requires AEMO to undertake detailed market modelling and key stakeholder consultation as part of this assessment.
As part of the RIT-T process AEMO undertook stakeholder consultation with government, industry and consumers to identify the preferred transmission investment option to address network limitations in Western Victoria. AEMO’s stakeholder consultation included the opportunity for public submissions and participation in deep-dive industry forums at key stages of the RIT-T process.
For more information on the RIT-T visit aemo.com.au/initiatives/major-programs/western-victorian-regulatory-investment-test-for-transmission/