The final lease – for Endeavour Energy – was concluded earlier this month and cost the lessor $7.6 billion.

After repayment of debt, the government netted $2.9 billion.

The government has pledged that one-third of the total funds from the leasing of all three networks would be spent in regional areas.

Illawarra Business Chamber executive director Chris Lamont said a indication of what “regional” meant was needed as well as the identification of priorities.

Mr Lamont said there were a number of projects in the Illawarra that could be funded with that money – projects which could see flow-on benefits outside the area.

“Regional centres, like the Illawarra, face a real infrastructure deficit that is holding back economic development for the region and NSW.

“This deficit is most noticeably associated with transport connections between the Illawarra, western and greater Sydney.”

With the NSW budget to be handed down on June 20, Mr Lamont wanted to ensure the Illawarra was in the government’s mind.

“Regional economic centres such as the Illawarra should be prioritised for this spend given the substantial and immediate benefits that flow for NSW, the community and business from this investment,” Mr Lamont said.

The leases began in December 2015 with the successful lease of 100 per cent of the Transgrid network.

The leasing of 50.4 per cent of Endeavour Energy and Ausgrid followed, bringing in a combined $23 billion after debt payments.

The region will already benefit from the leases, as the NSW government has already promised $350 million to the construction of the Albion Park Raul Bypass.

The remaining $200 million will come from the roads and freight budget.