Victoria's energy supply
The Victorian energy sector is evolving at a fast pace and this period of change is a challenge for all – government, consumers and suppliers. Safe, reliable, affordable and sustainable energy supplies are not only an essential service but are crucial to a strong economy.
Victoria is well placed to respond to the challenges of the future. Our energy networks are becoming smarter and more flexible meaning energy retailers can offer more products that benefit consumers and new technologies can be adopted and introduced into the system. The way Victorians use power is changing and the rise of technologies like rooftop solar systems and in-home displays are encouraging people to be more engaged energy consumers.
Victoria has access to a diverse range of resources that can be used to produce energy. The brown coal generators of the Latrobe Valley have traditionally provided the majority of the state’s electricity. Victoria also has world-class renewable energy resources in wind, solar and marine energy that have the potential to make a much greater contribution to meeting energy demand.
The Victorian Government is promoting renewables by establishing a $20 million New Energy Jobs Fund to offer support to community groups and businesses developing renewable energy projects. The Government is also developing a Renewable Energy Action Plan to encourage renewable energy generation in Victoria.
Energy efficiency is the single best way for households and businesses to reduce their energy bills and that is why the Victorian Government has moved to retain the Victorian Energy Efficiency Target scheme, which had been due to close at the end of 2015. There will now be a review of VEET and the Government will be releasing an Energy Efficiency and Productivity Statement.