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Victorian Government outlines plan for SEC

The Victorian Government has unveiled a path forward for the State Electricity Commission (SEC) to deliver renewable power to commercial and industrial customers.

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The SEC Strategic Plan 2023-2035 sets out three priorities for the next 10 years that focus on increasing storage and onshore generation, and building industry confidence to attract further investment. These include:

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

As part of the Strategic Plan, the SEC will invest an initial $1 billion towards building 4.5 gigawatts of new power (the equivalent of around 1.5 million homes) through renewable energy and storage projects. It aims to support 2.6 gigawatts of renewable generation and storage assets by 2028.

The SEC will supply to commercial and industrial customers and will also launch a pilot program next year to electrify some older homes and transition them away from gas.

The plan estimates bill savings of around a $1,400 a year for detached homes by going electric (with further savings for those with solar).

An SEC Centre of Training Excellence will engage with education and industry to support the transition to a skilled renewable energy workforce.

The Strategic Plan estimates 59,000 jobs – including 6,000 traineeships and apprentices – will be needed to help deliver the infrastructure and services needed to get the state to its target of 95 per cent renewable energy by 2035.

Premier Jacinta Allan said: “The SEC is back: we’ll invest in government-owned renewable energy, help households switch to all-electric and build the renewables workforce Victoria needs.”

More information is available via the Strategic Plan and the SEC website.

Victorian Chamber advocacy

This year Victorian Chamber launched its Roadmap for Victorian Businesses to achieve a net-zero economy, providing recommendations based on three core objectives: reducing energy prices, ensuring the reliable supply of energy, and supporting businesses transition to a net-zero economy.

While the Chamber supports the Victorian Government’s commitment to decarbonise 95 per cent of the State’s energy sector by 2035 and the SEC re-establishment, it is vital that the Government engages and consults with business throughout the process.

The Victorian Chamber believes that by providing businesses with the support they need, we can create a more sustainable future and unlock new economic opportunities for our state.

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