The original SEC played a pivotal role in securing Victoria’s electricity supply and economic growth, but the new one will accelerate its energy transition. Source: Museums Victoria.
Victoria’s State Electricity Commission (SEC) has been brought back for good, with the State Government enshrining it in Victoria’s constitution.
The Constitution Amendment (SEC) Bill 2023 has passed the Victorian Parliament, to keep power in the hands of Victorians and not just the big energy companies.
The former Liberal government sold off publicly owned power to private, for-profit companies.
The current Labor State Government says much of the profits from Victoria’s essential services were sent offshore, with the generators alone making $23 billion “at our collective expense”.
Minister for the State Electricity Commission Lily D’Ambrosio said enshrining the SEC in the constitution guaranteed public ownership of renewable energy assets for the future, giving the SEC the certainty to continue accelerating the renewable energy transition and ensuring all Victorians would benefit.
“The Liberals sold off our energy assets, and you can be sure they’re asking Jeff Kennett for advice on how to do it again,” the minister said.
“Now, the SEC is here to stay – ensuring Victorians can benefit from publicly owned renewable energy for decades to come.
“This will give the SEC the certainty it needs to power on with Victoria’s renewable energy transition, putting the power back in the hands of Victorians, creating thousands of jobs and slashing power bills.”
All profits the SEC makes are reinvested into renewable energy projects, securing a steady pipeline of renewable energy jobs and training opportunities right across Victoria and helping create 59,000 jobs including 6000 traineeships and apprenticeships.
Labor says the SEC will help drive down power bills by increasing the amount of renewable energy in the country through its publicly owned projects and will help Victoria achieve its nation-leading target of 95 per cent renewable energy by 2035.
The SEC has hit the ground running with construction underway on its first project – the Melbourne Renewable Energy Hub, a 600-megawatt big battery that will store enough energy to power up to 200,000 homes during peak periods and enable more renewable energy generation to be connected to the grid.
The project is the first being delivered using the SEC’s initial $1 billion – the SEC will deliver 4.5 gigawatts of power through new renewable energy and storage projects – enough to power more than 1.5 million homes.
The SEC is also delivering bill savings through its home electrification digital planner.
The minister said Victorians trusted the SEC to help them save, with more than 3000 users in its first month looking to switch to electric appliances.
Victoria’s investment in renewable energy is helping to consistently deliver the lowest wholesale energy prices in the country, she said, and this position only grows stronger as more battery storage, wind and solar farms come online.
Ballarat has been given early access to the SEC’s free digital tool to support the switch to energy efficient electrical appliances.
A pilot will run for the remainder of this year across the cities of Ballarat, Casey and Merri-bek, and the SEC will evaluate the results ahead of a planned scale-up across more areas of Victoria.
The SEC pilot includes a free digital platform that walks users through a short survey about their home and energy usage and then tailors a plan to cut their energy bills through electrification.
It also includes suggestions for suitable appliances, indicative costs, return on investment, government rebates, and emissions reductions. That survey is available to users across Victoria.
With the launch of the Ballarat pilot, local customers who require more information or would like to upgrade their appliances can connect with an installer who has been vetted by the SEC. Installers can make a free house visit to provide a more detailed quote.
Premier Jacinta Allan said the launch was the first part of the SEC’s one-stop shop for households in Ballarat wanting to go all-electric and save on their energy bills.
“We’re helping busy families slash their energy bills with the SEC,” she said.
“Building renewable energy projects for our future and creating a one-stop shop to help them save.”
More information on the SEC can be found by visiting its website.
