Tuesday, 23 May 2023

Ministers statements: State Electricity Commission

Lily D’AMBROSIO (Mill Park – Minister for Climate Action, Minister for Energy and Resources, Minister for the State Electricity Commission) (12:18): I am absolutely delighted to update the house on how our government is doing what matters and bringing back the SEC. Victorians overwhelmingly supported the plan to bring back the SEC, lowering power bills and supercharging our renewable energy revolution. The SEC will absolutely push down wholesale prices, bringing 4.5 gigawatts of new power generation – the equivalent replacement of Loy Yang A power station. And just six months in we have not wasted a single day. Back in February we announced an interim expert advisory panel, who are right now providing excellent expert energy and financial advice to the government.

But it does not stop there. In early May we released the SEC Pioneer Investment Mandate, and we will deliver the first SEC project by the end of the year, accelerating the renewables energy transition with a minimum of 100 megawatts of new capacity, powering at least 60,000 new homes in Victoria. Projects like these will make sure that the 100 per cent publicly owned SEC drives our ambitious renewable energy target of 95 per cent renewable electricity by 2035. And whilst we are doing that, bringing back the SEC will accelerate the development and creation of 59,000 jobs along the way – jobs of the future for Victorians today. The SEC will support workers across Victoria with the SEC centre of training excellence and the creation of 6000 apprenticeships and traineeships. Just last week we formalised the most ambitious emissions targets in the country: 75 to 80 per cent emissions reduction by 2030 and net zero by 2045. The SEC will help to deliver a renewable zero emissions future in Victoria for all Victorians.