Compensation
How is compensation for the easement assessed?
Landholders who have an easement on their property will be compensated in line with the Land Acquisition and Compensation Act 1986 (Vic) which aims to ensure that they are no worse off financially.
The payments are intended to recognise the important role that landholders play in hosting critical transmission infrastructure. The amount of compensation will vary for each landholder and is based on a valuation by an independent and accredited valuer.
The project appointed valuer will undertake a compensation valuation in accordance with the provisions of the Land Acquisition and Compensation Act 1986 (Vic), the Valuation of Land Act 1960 (Vic), and relevant valuation principles.
The value of easement acquisition may include consideration of:
- Loss of market value and highest land use potential.
- Loss of use of part of the land.
- Loss of value caused to remaining land.
- Pecuniary loss as a result of construction and development.
- Loss of any additional value specific to the landholder.
- Legal / valuation costs.
For example, if the easement impacts activities as a farmer who uses agricultural equipment, we will work with them to identify the impacts and appropriate compensation including potential equipment replacement via compensation.
For further information, refer to the Landholder Guide: Easement safety and permitted activities and the Landholder Guide: Land access, easements and compensation.