Government Backtracks on SEC Promise: Reduced Stake in Projects
The Victorian government’s backtrack on its election pledge to have the State Electricity Commission (SEC) take a majority stake in renewable energy projects sparks controversy. The SEC’s initial $245 million investment in three batteries reflects a diminished 38.5% share, prompting insiders to reveal a strategic shift.
Altered Vision: Budget Challenges and Private Partnerships
Confidential sources disclose that an expert panel identified challenges in meeting the government’s $1 billion budget for larger-scale projects. Private companies are reluctant to accept majority government investments, prompting a reevaluation of the SEC’s role in renewable energy initiatives.
Election Pledge Revisited: SEC’s Role and Budget Allocation
Former premier Daniel Andrews’ promise to revive the SEC during the 2022 election included a commitment to a “controlling interest” in each project. However, the SEC’s 10-year strategy document, released in October, avoids specifying majority ownership, focusing on addressing critical system gaps.
Controversial Impact: Limited State Influence and Skepticism
Without a controlling share, the state’s ability to influence decisions about energy sales is questioned. Industry experts express skepticism, with concerns raised by Tennant Reed of the Australian Industry Group and opposition spokesman David Davis, who accuses the government of promoting a “pipe dream.”
Source：theage.com.au
