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Victoria’s SEC could end up with offshore profits

Gus McCubbing

Daniel Andrews told voters at last year’s election the revived State Electricity Commission would “replace offshore profits with offshore wind”, but a parliamentary hearing has revealed it will be open to foreign co-investment.

Victorian Energy Minister Lily D’Ambrosio also confirmed the SEC would only produce one-fifth of the state’s new energy generation by 2035.

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Gus McCubbing is a markets reporter in the Melbourne newsroom. He was previously the Australian Financial Review’s Victorian political correspondent. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com

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    Original URL: https://www.afr.com/policy/energy-and-climate/victoria-s-sec-could-end-up-with-offshore-profits-20230609-p5dfca