The new generation capacity will be built as part of the Victorian Government’s renewable energy target (VRET), which is driving new electricity generation.

Victorian Chamber of Commerce and Industry Chief Executive Mark Stone AM said this investment in new energy supply will cut energy bills and grow jobs in the sector while reducing emissions.

“Generating more electricity helps to lower prices and that’s a good thing for Victoria’s businesses struggling with energy bills that have risen by more than 125% over the past 10 years.

“In the absence of a national energy policy, it’s good to see Victoria getting on with the job,” Mr Stone said.

The Victorian Chamber has called on the Government to partner with business to lower energy bills, so it’s welcome news to see the results of the first VRET auction.

However, more needs to be done to keep electricity and gas bills down so that Victoria’s businesses can remain competitive.

“The Victorian Chamber is calling on all Parties to commit to lifting the moratorium on conventional gas exploration, to work with gas producers to ensure there is enough affordable gas for local industry and to provide support to businesses to improve their efficiency.

“Our Stronger Business, Stronger Victoria 2018 State Election Priorities set out the Victorian Chamber’s agenda to grow business and grow jobs,” Mr Stone said.