The State Electricity Commission has returned to “free Victoria from its reliance on fossil fuels and unlock the opportunities of our renewable energy transition”. Photo: File.
The Victorian Government-owned State Electricity Commission (SEC) is officially back and has been tasked with leading the state’s renewable energy transition with a focus on supply, homes and people.
SEC Interim CEO Chris Miller heralded the SEC’s resurrection as an opportunity to “free Victoria from its reliance on fossil fuels and unlock the opportunities of our renewable energy transition.”
The SEC’s Strategic Plan 2023-2035, developed on recommendation from the SEC Expert Advisory Panel, sets out three priorities for the next decade to achieve these goals.
These priorities are, investing to accelerate the energy transition, supporting the switch to all-electric households and building a renewable energy workforce.
An initial $1 billion will be invested before the end of the year into building 4.5 gigawatts of new power, enough to power around 1.5 million homes, through renewable energy and storage projects.
Victorian Treasurer Tim Pallas said it would “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.”
More than 100 registrations of interest from energy market participants have already been made for the pioneer investment, which will focus on increasing storage and onshore generation and building industry confidence to attract further investment down the line. The total combined market capacity of these interested energy market participants was 24 gigawatts of generation and 30 gigawatts of storage capacity.
By 2028, the SEC is expected to support 2.6 gigawatts of renewable generation and storage assets. SEC Minister Lily D’Ambrosio said Victoria would need 25 gigawatts of renewables in the grid by 2035.
“Victoria has some of the most ambitious emissions reductions targets in the world, and the SEC and its role accelerating the transition to renewables will be the key driver to achieving this,” she said.
The SEC will also take over the state government’s Victorian Renewable Energy Target projects by 2025, which amount to an additional 1.2 gigawatts of renewable energy generation.
This will help power every public hospital, school and police station and achieve the target for all Victorian Government operations and facilities to be fully powered by renewables by 2025.
The Commission will also supply energy to commercial and industrial customers and from next year, assist Victorians with pilot household solutions stepping them through the switch away from fossil gas.
The Victorian Government said residents of detached homes without solar would save around $1400 per year on energy bills after electrification, or more than $2700 with solar. Victorian Premier Jacinta Allan said the government was “putting power back in the hands of Victorians, giving them the tools they need to lower household energy bills and make the most of the cheap renewable energy that will supply the grid.”
The SEC will also deliver skills and training to secure 59,000 future energy workers, including 6,000 traineeships and apprentices, to build the infrastructure and services to get Victoria to 95 per cent renewable energy by 2035. Namely through the establishment of the SEC Centre of Training Excellence, engagement with schools, TAFEs and industry and as an employer and workforce development advocate.
“Our next Big Build is the renewable energy transition – and the SEC will help attract and train the renewable energy workforce Victoria needs,” Minister D’Ambrosio said.
