The Allan Labor Government’s attempt to establish the SEC has failed to deliver the affordable power that was promised, leaving northern Victorian residents battling more increases in the cost of living.
Legislation passed the Victorian Parliament this week to embed the SEC’s mandate and “flimsy” objectives into the Victorian Constitution.
The first annual report of the revived SEC was tabled in Parliament, revealing a range of damning results.
The Nationals’ Member for Northern Victoria Gaelle Broad said the report showed that Labor’s revival of the SEC had been a failure on many fronts. The report revealed:
- The SEC is spending more than $1.3 million on consultants.
- The original four board members all resigned from their positions within 12 months.
- Executives account for nearly one-in-five of the SEC’s 45 employees.
- The SEC’s sole investment in the Melbourne Renewable Energy Hub (MREH) has lost $5 million across 2023-24.
- There remains only one employee based at the SEC’s Morwell location.
“Victoria’s average wholesale electricity cost has already surged 43 per cent compared to the same time last year, according to a recent Australian Energy Market Operator quarterly report,” Ms Broad said.
“With millions spent on consultants, a full board turnover and a $5 million loss on its sole investment, I wonder how the SEC is delivering for Victorian households, businesses, and taxpayers?
“Residents of northern Victoria are already battling increased living costs on many fronts and electricity is a big cost for many people,” Ms Broad said.
“The SEC can be summed up as ‘Soaring Energy Costs’, because Labor cannot manage money, cannot manage our energy system and regional Victorians are paying the price.”
Media Contact: Linda Barrow 0484 303 764 linda.barrow@parliament.vic.gov.au
