THE Victorian Government has taken the first formal steps to revive state-owned electricity company, appointing an interim chief executive and creating an expert advisory panel.<\/p>\n
The Andrews Labor Government promised to bring back the State Electricity Commission if it secured a third term in office last month, and begun putting its plan into motion in late December.<\/p>\n
Chris Miller, former deputy secretary of tourism and events at the Department of Jobs, Precincts and Regions and ex-senior executive at the Department of Premier and Cabinet, has been named the commission’s interim chief executive.<\/p>\n
He will work with a panel comprised of experts in energy, investment risk management, industry development, engineering and consumer advocacy to set up the body.<\/p>\n
The panel will be chaired by the secretary of the Department of Energy, Environment and Climate Action, John Bradley.<\/p>\n
Premier Daniel Andrews and Treasurer Tim Pallas will hold shares in the SEC on behalf of Victorians.<\/p>\n
Victoria’s State-owned electricity assets were privatised in the 1990s, but Labor intends to make an initial investment of $1 billion towards renewable energy projects overseen by the SEC.<\/p>\n
They will be majority-owned by the state, with superannuation funds identified as preferred investors for the minority shares.<\/p>\n
The Government will try to enshrine the SEC in the state constitution next year through an amendment that requires a special majority, meaning 60 per cent of MPs in both houses are needed to pass the legislation.<\/p>\n
“We’ve got a mandate. It’s a very, very clear mandate,” said State energy minister Lily D’Ambrosio.<\/p>\n
“Our aim is to … roll out that election commitment in full.<\/p>\n
\u201cGovernment-owned renewable energy will create thousands of jobs, bring billions in investment and help Victoria achieve our nation-leading targets of 95 per cent renewable energy by 2035 and net zero by 2045.\u201d<\/p>\n