Published on Monday, 10 July 2023 at 4:15:00 PM
The City of Vincent has adopted a financial model to guide the roll-out of its underground power project across residential streets and town centres in Vincent.
Western Power, the State Government and Vincent have committed to converting distribution powerlines to underground power, delivering reliable and safe power while improving street appeal and allowing the tree canopy to flourish.
The Vincent Underground Power Program includes eight project areas.
Council adopted the Underground Power Financial Model last month.
The model includes options for ratepayers to either pay their service charges upfront or choose a four-year payback period.
Eligible pensioners can also access a rebate of up to 50 per cent of the total service charges from the State Government.
The service charges include a network charge and a connection fee.
“The Vincent Underground Power Program is a once-in-a-generation opportunity to deliver underground power for the whole community,” said Mayor Emma Cole.
“Underground power will provide benefits to everyone in Vincent, including improved network reliability and security, better public safety throughout our neighbourhoods and town centres, an improved street appearance and LED street lighting and increased property value.
“We will be borrowing funds from the Western Australian Treasury Corporation and using funds from our Underground Power Reserve and Tamala Park Land Sales Reserve to provide a four-year payment option for ratepayers.
“We believe this financial model is the best way to support our community to achieve underground power.”
There are no financial implications to ratepayers in 2023/24.
Services charges will be determined as each project area progresses.
Where residents have a green dome, there will be no connection charge. Residents who have underground power will not be charged.
Council’s vision in its 10-year Strategic Community Plan is for Vincent to be a leafy and vibrant 24-hour city synonymous with quality design and sustainability.
“Undergrounding power will help achieve our community vision faster than any other single project in our history,” said Ms Cole.
“Completing the underground power program throughout Vincent will result in tree pruning cost savings.
“Underground power program includes the conversion of all our streetlights in the project areas to all new light poles with LED, which are more energy efficient and will reduce the City’s power bill.”
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