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The Victorian Government is bringing back the State Electricity Commission (SEC) – driving down power bills, and creating thousands of jobs building new renewables like wind, solar and batteries.

The SEC will be revived as an active energy market participant. The Government will own a controlling interest in these projects, ensuring profits go straight back into keeping bills down for Victorians.

We’ll make an initial investment of $1 billion towards delivering 4.5 gigawatts of clean power – the equivalent replacement capacity of Loy Yang A.

Key points:

  • The new SEC will become an energy market proponent under a 10-year plan to deliver cleaner and cheaper energy, with all profits invested back into the system.
  • Victoria will have an interest in its renewable energy projects.
  • The SEC will push wholesale energy prices down for Victorians by increasing the amount of energy in the market.
  • We’ll invest at least $20 million to prepare the SEC for its new role in our energy market, including setting up an office in Morwell.

The establishment of the SEC is a key pillar of Victoria’s transition to renewable energy.

It will help the State achieve our new renewable energy targetsExternal Link of 65% by 2030 and 95% by 2035.

Combined with our storage targets of 2.6 GW by 2030 and 6.3 GW by 2035, and our emissions reduction targetsExternal Link of 75-80% by 2035 and net zero by 2045, these initiatives are expected to support around $9.5 billion in Gross State Product and 59,000 jobs through to 2035.

An SEC Centre of Training Excellence will be established to coordinate and accredit courses in clean energy, connecting with our TAFEs, RTOs, unions and the industry, which will help support 6,000 positions for trainees and apprentices.

This page will be updated as more information about the SEC implementation plan is available. For more information, contact info@secv.vic.gov.au.

Reviewed 21 December 2022

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