Victoria’s State Electricity Commission (SEC) has announced it will power approximately 5% of Victoria’s electricity market from 1 July this year in a deal that will see it power schools, hospitals and other Victorian Government operations with 100% renewable electricity.
This includes everything from metropolitan and regional hospitals to some of Victoria’s most iconic and loved places, such as Flinders Street Station, the Melbourne Museum, the National Gallery of Victoria, Phillip Island’s Penguin Parade, Werribee Open Range Zoo, the Royal Botanic Gardens and the Melbourne Park precinct.
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The SEC will also supply much of Victoria’s train and tram network, powering over 350 million train and tram trips each year.
SEC CEO Chris Miller said, “When we enter the market on 1 July, the SEC will be servicing approximately 5% of the Victorian electricity market, providing us with a strong base to help more Victorian businesses transition to renewable energy, improve their energy efficiency, reduce consumption and meet their carbon reduction goals.”
Currently, large commercial and industrial customers are able to negotiate renewable energy Power Purchase Agreements with developers or gentailers, leveraging their buying power to access these opportunities. Smaller commercial and industrial businesses have less opportunity. The SEC will help to address this gap.
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The SEC will meet its customers’ electricity demand with the SEC’s portfolio of renewable electricity generation and storage assets, including the VRET projects. Projects supported by VRET auction contracts include the Berrybank Wind Farm, Dundonnell Wind Farm, Winton Solar Farm, Glenrowan Solar Farm, Cohuna Solar Farm and Bulgana Green Power Hub.
This will reduce the Victorian Government’s exposure to price volatility in the electricity market.
