Fresh doubts have emerged over Labor’s renewable energy targets as the CEO of the State Electricity Commission (SEC) admitted the rate of battery installation would need to double from its current level or risk a 5-gigawatt storage shortfall.
The admission came as the SEC struggles to identify and progress projects, nearly two years after the revived body was announced by Labor, with the only confirmed project being a minority equity stake in a private battery project in Melbourne’s west.
Despite repeated promises by Labor that the SEC would involve majority government investment in projects and would bring down prices, the latest quarterly report from the Australian Energy Regulator (AER) shows power prices rose by over 9 per cent in Victoria over the March 2024 quarter compared with the same quarter last year.
Shadow Minister for Energy, Affordability and Security, David Davis, said: “The SEC continues to be a shambles. Labor still cannot secure the projects they promised and now even the CEO has admitted the rate of battery installation is half of where it needs to be.
“Labor mislead Victorians when it announced the reintroduction of the SEC and all they’ve experienced since are higher and higher electricity bills.
“The Allan Labor Government must focus on delivering cheaper power prices for Victorians.”
