CopperString's boss says the shared commitment of state and federal governments to their project will secure more affordable, more reliable electricity and jobs for the Mount Isa and Cloncurry region.
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CopperString is a high-voltage transmission line connecting the North West Minerals Province to the National Electricity Market and CuString CEO Joseph O'Brien said the Queensland Government's announcement of an Expression of Interest for a feasibility study into additional electricity generation recognised the current power supply arrangements were insufficient to sustain the region's growth potential, especially following a five-hour power outage that blacked out the region on Friday, 23 April.
"The Premier and Prime Minister have both committed their governments to the CopperString project's potential as a significant jobs-generating proposal of State and national significance," Mr O'Brien said.
Mr O'Brien said CopperString could provide the reliable access to more affordable electricity the world class mining province desperately needed and ensure all new power generation for customers cost less.
"With access to the NEM via CopperString, the power projects can be larger, and customers will always know they are getting the best deal," he said.
"That's why I believe the Morrison and Palaszczuk Governments know the strategic importance of the 1100-kilometre transmission network and giving the North West a level playing field with the east-coast."
In October the state government entered into an implementation agreement with CopperString late last year to provide certainty for the project and the jobs it provides and deputy premier Steven Miles likened CopperString to other game-changing infrastructure in the region saying it had "the potential to be the most transformative project for the North Queensland economy since the construction of the Great Northern Railway reached Mount Isa in 1929."
Prime Minister Scott Morrison is also supportive.
"Our support for CopperString is an investment in the future of Queensland that will bring power prices down, create 750 direct construction jobs and unlock the significant economic potential of the North West Minerals Province," the PM said.
In 2020 consultants ACIL Allen completed economic modelling which estimates the CopperString project's Benefit Cost Ratio to be 4.54 with total project net benefits of $9.2 billion, using a 7% discount rate.
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
