The Victorian Chamber of Commerce and Industry and Committee for Melbourne are advocating for urgent reform to Victoria’s energy system, warning the state’s once-significant energy advantage is being eroded by rising costs, system volatility and growing reliability concerns.
As part of the Maximising Victoria’s Potential and Competitiveness platform, the organisations are proposing a series of reforms aimed at restoring affordability, reliability and investor confidence while continuing the transition to lower-emissions energy.
Victoria’s transition has been ambitious on targets but insufficiently focused on the system architecture required to deliver them sustainably.
Key reforms proposed include:
- An annual Victorian System Adequacy Statement to track energy security risks and delivery gaps
- An annual Energy Affordability Report detailing the true cost drivers impacting households and businesses
- Faster approvals for critical energy infrastructure including storage, firming and transmission
- Greater transparency around offshore wind costs and delivery timelines
- Clearer policy settings around gas and firming capacity during the transition
- Support for multiple decarbonisation pathways rather than reliance on a single approach
Growing pressure on energy-intensive industries, tightening gas supply forecasts and increasing wholesale price volatility are key risks facing Victorian businesses.
Delayed renewable project delivery, transmission constraints and uncertainty around offshore wind are also creating significant investment concerns.
To be attributed to Victorian Chamber of Commerce and Industry Chief Policy and Advocacy Officer, Amelia Bitsis:
“Victorian businesses support the transition to lower emissions, but they also need energy they can afford and rely on.
“We cannot ignore the growing pressure rising energy costs are placing on manufacturers, regional industries and households.
“The transition must be transparent, properly sequenced and grounded in the practical realities of how businesses operate.
“Energy policy cannot simply be about targets. It must also be about affordability, reliability and delivery.”
To be attributed to Committee for Melbourne Chief Executive, Scott Veenker:
“Melbourne’s future industries - from advanced manufacturing to data centres and technology - will depend on secure, competitive energy.
“If Victoria becomes known for volatility, uncertainty and rising costs, investment will simply go elsewhere.
“We need an energy transition that maintains public confidence, protects industry and supports economic growth at the same time.”
Contact details:
To organise television or radio interviews/grabs with Victorian Chamber Chief Executive Sally Curtain or Committee for Melbourne Chief Executive Scott Veenker, please call 0423 883 945 or email [email protected]