Vic State Electricity Commission back in business

The Victorian Government has officially brought back its State Electricity Commission (SEC) as a government entity with a plan to lead the state’s renewable energy transition through a focus on supply, homes and training. Originally established in 1918, the SEC was privatised in the 1990s.

Launched by Premier Jacinta Allan, the SEC’s Strategic Plan 2023–2035 sets out three clear priorities for the next 10 years:

• Investing to accelerate the energy transition.
• Supporting the switch to all-electric households.
• Building a renewable energy workforce.
   

Initially, the SEC will invest $1 billion towards building 4.5 gigawatts of new power through renewable energy and storage projects — enough to power around 1.5 million homes. This investment will focus on increasing storage and onshore generation, and building industry confidence to attract further investment down the line.

“Our initial $1 billion investment for the SEC will help boost private investment to fast-track and deliver projects that would not have been delivered at the same speed, or at all, without the SEC’s involvement,” said Treasurer Tim Pallas.

The SEC will also take over the Labor government’s Victorian Renewable Energy Target projects by 2025 — amounting to 1.2 gigawatts of renewable energy generation in addition to the 4.5 gigawatts.

This will help power public hospital and schools, police stations and government buildings with renewables, helping to achieve the target for all Victorian Government operations and facilities to be powered by 100% renewable electricity by 2025.

Given that electrifying an older home can be a complicated process, with many moving parts, the SEC will establish a trusted ‘one-stop shop’ for Victorians, with pilot household solutions starting from next year. It is estimated that residents will make a saving of around $1400 a year by going electric; savings can increase to more than $2700 a year with solar installed.

Finally, the SEC will deliver the skills and training needed to secure Victoria’s pipeline of future energy workers. This involves supporting the creation of 59,000 jobs — including 6000 traineeships and apprentices — to help deliver the infrastructure and services needed to get the state to 95% renewable energy by 2035.

The SEC will support workforce development and attraction through three avenues: as an employer; through attraction and training; and as an advocate for sector-wide workforce development. It will establish the SEC Centre of Training Excellence and engage with schools, TAFEs and industry.

The SEC’s Strategic Plan was developed on recommendation from the SEC Expert Advisory Panel, which brought together some of Australia’s most prominent energy sector and business leaders. Each panel member brought specific expertise to guide the design of the new SEC and position it to accelerate Victoria’s energy transition.

“More than 100 years after it was first established, we’ve brought back the SEC to free Victoria from its reliance on fossil fuels and unlock the opportunities of our renewable energy transition,” said Interim CEO of the State Electricity Commission Chris Miller.

For more information about the SEC and to view the strategy, visit: secvictoria.com.au.

Image credit: iStock.com/Paul Bradbury