2023 wrap up: how you've helped us create our 2026-2031 business plan
29 December 2023
2023 has been an important year for our regulatory reset, engaging with our customers and stakeholders to assist in the development of our 2026-2031 business plan.
Listening to the views of our customers is important so that we deliver a business plan that meets the needs, expectations and preferences of our customers.
Below are some of the year’s highlights, from our largest customer engagement program ever, as well as more opportunities to get involved before our draft business plans are presented in August 2024.
Engagement figures from January 2021 to December 2023.
Shifting lifestyle trends boost Victorians’ demand for energy
In October, we joined forces with CitiPower, Powercor and Monash University’s Emerging Technologies Research Lab to unveil a new report that outlines massive shifts in future household energy demands.
The increase in home-based care, a rise in the energy needs for household pets and the increased adoption of electric vehicles (EVs) were among the 51 specific trends uncovered by the research into Victorians’ future energy needs.
The pivotal study offers an invaluable glimpse into the future – empowering us to sharpen our forecasts, develop future business plans, and ensure our distribution networks evolve in line with customers’ changing expectations.
Partnering with other distributors to shape response to network challenges
The pace of change required by electricity distribution networks to keep pace with Victoria’s clean energy transition is significant. At the same time, factors such as a growing population, increasing reliance on technology on how we live, work and relax and more frequent extreme weather events due to climate change mean our customers are more dependent on a safe, reliable power supply than ever before.
Customers from Victoria’s five networks – United Energy, AusNet, CitiPower, Jemena, and Powercor – came together at a forum in October to help shape how distributors respond to these challenges, prioritise, and invest in a more resilient network. Feedback will help inform the development of the Joint Resilient Investment Principles, to feed into our future plans. The report with the full findings will be published in early 2024.
Later in November, key stakeholders for the five distributors again came together to discuss proposed updates to tariff pricing principles and structures.
Having your say on new energy technologies
The renewable energy transition is changing how and when customers use electricity. The Energy Transition Summit in November brought together local councils, sustainable energy groups and representatives of vulnerable people to help understand and prioritise customers’ needs for the transition.
Our Customer Energy Futures: Service Level Options Paper, explores options to address the challenges in accommodating new technologies, and support customer-led change and agency.
If you haven’t already, you can share your views on how you’d prefer to use customer energy resources that can generate or store power until Friday 5 January 2024.
Looking ahead
The first few months of 2024 will see us testing and refining our draft business plan with customers, sharing what we’ve learnt through all our engagement so far and identifying the price/service trade-offs for discussion with our customers. We’ll submit our draft business plan in August 2024.
Register to stay up to date and for your opportunity to contribute in the future.
