Government, Policy, Renewables, State Policy

Victorian Government releases long-term strategy for State Electricity Commission

The Victorian Government has released its 12-year strategy for the State Electricity Commission, confirming its commitment to supporting electrification and renewable energy workforce initiatives.

Victorian Premier Jacinta Allan announced the details of the State Electricity Commission’s “Strategic Plan 2023-2035” at the Careers for Net Zero Fair, hosted by the Clean Energy Council as part of the All-Energy Australia event in Melbourne.

The strategic plan supports 4.5GW of clean energy development, funding for domestic electrification and the development of long-duration storage projects.

Under the new scheme, Victorian manufacturers, schools and hospitals will be able to buy energy directly from the State Electricity Commission, which will sell retail and wholesale electricity.

Clean Energy Council chief executive Kane Thornton says while governments can play a critical role in markets as regulators and as participants, they need to ensure they strike the right balance.

“The announcement by the Victorian Premier is a welcome step forward and we look forward to partnering with the government on developing the remaining detail,” he says.

“The industry has capital ready to be deployed, and we welcome the government’s acknowledgement of the importance of partnerships and leveraging enormous private sector investment.

“We look forward to working closely to ensure the implementation of the important principle.

“We know those poised to make significant investments are very keen to learn the remaining detail from Victoria and all Australian governments to inform their decision making.”

Thornton also says support for long-duration storage projects is an area where governments can play a key role in future.

“It is vital when governments make market interventions that all consequences are taken into consideration,” he says.

“What unites this industry is we want to see sustainable investment from governments across Australia in a way that supports our long-duration success in reaching our renewable energy targets and delivering low-cost clean energy for homes and businesses.”

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