The construction of two major electricity interconnects between New South Wales (NSW), Victoria and South Australia (SA) took a major step forward today with a planning body recommending approval of the projects and finding more than $300 million in economic benefits. The inter-regional planning committee (IRPC) of the National Electricity Market (NEM) recommended that the 400MW Snowy-to-Victoria (SNOVIC) augmentation proceed and that the proposed 250MW SA-NSW interconnector project be approved. The IRPC assessment concluded the SNOVIC project, if implemented, would deliver net benefits to the NEM of $160-230 million over the next 10 years. If both projects are implemented, the economic benefits are estimated at up to $310 million. If the approval processes proceed to schedule, the proposed SNOVIC augmentation is expected to be commissioned in time for summer 20002/03. Victorian Energy and Resources Minister Candy Broad says the interconnectors are vital to the continued security of electricity supply in the state. "The reports complement other Bracks government initiatives under way to improve security of supply such as the facilitation of over 1,000MW of new generation initiatives in the Victoria-South Australia region and the encouragement of increased demand-side participation," she says.