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‘Shocked’: Andrews nationalises electricity

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Victorian Premier Daniel Andrews’ plan to “bring back” the government-owned State Electricity Commission to reverse the decades-long privatisation of Australia’s energy market will chill private investment and hurt ordinary investors and workers, the CEOs of Woodside Energy, Alinta Energy and Australian Energy Council warn.

The state Labor government said it would spend $1 billion to develop its own renewable energy assets, as it announced tough new emissions targets that are likely to end coal power generation in the state by 2035 - earlier than expected. The state would invest directly to control renewable energy projects, including wind and solar, with a focus expected to be on its ambitious offshore wind targets.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com
Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
Colin Packham is an energy and resources reporter at The Australian Financial Review Connect with Colin on Twitter.

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    Original URL: https://www.afr.com/companies/energy/victoria-to-bring-back-state-ownership-of-energy-20221020-p5brci