Constitutional Protection To Keep The SEC In Victorian Hands
The Allan Labor Government is enshrining the State Electricity Commission (SEC) in Victoria’s Constitution – preventing future governments from destroying it – so that Victorians can always rely on the SEC to put their best interests first and ensure continued investment in Victoria’s energy transition.
The Liberals sold off publicly owned power to private, for-profit companies. They sold off Victoria’s essential services and sent much of the profits offshore – with the generators alone making $23 billion in profits at our collective expense.
Now, privatised coal power plants are getting old, breaking down and closing – the new SEC will invest in government owned renewable energy, putting the power back in the hands of Victorians and helping the state achieve its nation leading target of 95 per cent renewable energy by 2035.
The SEC will invest an initial $1 billion towards delivering 4.5 gigawatts of power through new renewable energy and storage projects – enough to power more than 1.5 million homes.
Through its investments, the SEC will increase the amount of renewable, affordable, reliable energy in the market to help drive down power bills.
Enshrining the SEC in the constitution will give the SEC the certainty it needs to achieve its objectives under the recently released SEC 10-year Strategic Plan.
The SEC strategy has three key pillars: investing in new renewable energy and storage projects, supporting households to go all-electric, and building the renewable energy workforce we need to drive Victoria’s energy transition.
Victoria’s next Big Build is the renewable energy transition – and the SEC will deliver the skills and training needed to secure Victoria’s pipeline of future energy workers.
The SEC will help create 59,000 jobs – including 6,000 traineeships and apprentices – to help deliver the infrastructure and services needed to get the state to 95 per cent renewable energy by 2035.
Enshrining the SEC will guarantee this steady pipeline of renewable energy jobs and training opportunities with all profits made through the SEC to be invested back into renewable energy.
The SEC will announce its Pioneer Investment before the end of the year.
Quotes from the Minister for the State Electricity Commission Lily D’Ambrosio
“Enshrining the SEC in our state’s Constitution will stop the Liberal Party in its tracks, so it can’t destroy Victoria’s state-owned energy again – protecting jobs and securing a renewable energy future.”
“This will give the SEC greater protection to follow through on its strategic plans and continue putting the best interest and value for Victorians at the center of every decision.”