Labor’s re-establishment of the SEC is a sham that’s failing to deliver promised affordable power, leaving Victorian households battling further cost of living pain.
Despite not lowering energy bills the Allan Government ploughed ahead passing legislation in state parliament to embed the SEC into Victoria’s constitution with the assistance of the Greens, Legalise Cannabis Party and independent MP’s.
The change to the constitution coincided with the tabling of Labor’s first SEC annual report into state parliament, exposing an array of damning results.
The Nationals’ Member for Eastern Victoria Melina Bath said the report revealed that Labor’s SEC revival had failed on multiple fronts and was driving up the cost of electricity.
“Australian Energy Market Operator (AEMO) quarterly report shows that Victoria’s average wholesale electricity cost has surged 43 per cent compared to the same time last year.
The SEC’s annual report 2023/2024 showed:
- It 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.
Ms Bath said with Labor splashing millions on consultants to run the SEC, a full board turnover and a $5 million loss on the authorities sole investment, highlights it’s a Labor publicity stunt.
“Our community has been sold an expensive lie – despite the promise of generating thousands of local jobs for skilled workers in eastern Victoria there is only one employee two years later.
“Eastern Victorians are continuing to battle increased living costs; their electricity bill is a huge overhead and it’s hurting families.
“Labor’s SEC is a sham and should be renamed to stand for ‘Soaring Energy Coasts’ as it is not delivering any benefit for Victorian households, businesses, and taxpayers.
“Labor cannot manage money, cannot manage our energy system and regional Victorians are paying the price.”
Link to SEC annual report and AEMO
