The Victoria Government’s 2023-24 Budget has confirmed a $1 billion investment in bringing back the State Electricity Commission (SEC), alongside other major funding for renewable energy projects and workforce training.

The Victorian Budget 2023-24 allocates investment in the SEC to drive jobs in renewable energy, while also investing to protect Victoria’s natural environment and help Victorian families with cost of living relief.

The initial $1 billion investment in the SEC will help deliver 4.5GW of power – the equivalent replacement capacity of Loy Yang A – through renewable energy projects.

The State Government said bringing back the SEC won’t just mean more renewable energy, lower power bills and reduced carbon emissions – it will also help create 59,000 jobs.

Victoria Minister for Energy and Resources, Climate Action and the State Electricity Commission, Lily D’Ambrosio, said, “We’re doing what matters for Victorians: bringing back the SEC to kickstart renewable energy investment, drive down power bills, tackle climate change and create thousands of jobs.”

Since Victoria’s energy was privatised, the sector has experienced a chronic shortage of workers in trades. The SEC will help find and train the next generation of tradespeople: maintenance workers, lineys, electricians – and also welders, painters and mechanics. 

Other key energy investments in the Budget 2023-24 include: 

  • $12 million to develop new VET qualifications, fund a business case for the SEC Centre of Training Excellence and deliver on the Victorian Energy Jobs Plan
  • $10 million for a Hydrogen Energy Worker Training Centre 
  • $6 million for a Wind Worker Training Centre
  • $20 million to keep working towards Victoria’s world-leading emission reduction targets of 75‑80 per cent by 2035
  • $15.3 million package to ensure energy safety legislation keeps pace with rapidly evolving technology, protecting the safety of electrical workers, households and the community
  • $20.6 million to support VicGrid’s planning and community consultation for Victoria’s transmission network
  • $400 million to roll out another round of the $250 Power Saving Bonus to every Victorian household
  • $58.2 million to install 100 new neighbourhood batteries at targeted locations across Victoria – tripling the number of homes with access to a battery and providing crucial extra storage capacity for local communities – as well as interest-free loans for household batteries
  • $130,000 in local renewable energy technology for the communities of Benambra and Healesville
  • $27 million to progress development on the Victorian Renewable Energy Terminal at the Port of Hastings
  • $5.1 million to keep progressing the Gas Substitution Roadmap to drive electrification and reduce reliance on fossil gas
Related articles

Leave a reply

Your email address will not be published. Required fields are marked *

©2024 Energy Magazine. All rights reserved


We're not around right now. But you can send us an email and we'll get back to you, asap.


Log in with your credentials

Forgot your details?