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Welcome commitment to boost electricity supplies and lower prices

Victoria may be home to a new power station big enough to supply the state’s major public services if the ­Coalition wins the 24 November election.

The Victorian Chamber welcomes today’s commitment by the Liberal Nationals Coalition to boost Victoria’s electricity supplies.

The Coalition will contract with the private sector to build a new power station capable of producing at least 500MW of dispatchable power at the lowest cost.

Victorian Chamber Chief Executive Mark Stone AM said Victorian businesses urgently need access to affordable, secure energy supplies and this commitment provides a welcome increase.

“The Coalition’s proposal to buy power in bulk represents an innovative approach to bringing on more electricity supply and lowering prices,” said Mr Stone.

This extra supply of energy into the market could save small businesses around $860 and larger ones around $1,720 a year, according to an independent analysis commissioned by the Opposition.   

This announcement is supported by the Coalition’s commitment to end the ban on onshore conventional gas exploration - a longstanding priority of the Victorian Chamber to ensure that businesses and households have access to enough affordable gas. 

“However, more is needed to tackle the energy issues facing Victorian business. It’s time for the major parties, Federal and State, to outline their vision for ensuring Victorian businesses and their 2.5 million workers have the energy they need to prosper,” said Mr Stone.

The Victorian Chamber is calling on the next State Government to drive the development of an integrated national energy policy that ensures reliable supplies of affordable and clean electricity and gas.

Energy security, reliability and affordability is a key priority for Victorian business and part of the Victorian Chamber’s 2018 State Election campaign, Stronger Business, Stronger Victoria.