The Victorian Greens have secured significant reforms that enshrine investment in renewable energy into the constitution, as the SEC Bill just passed the Upper House.
The Constitution Amendment (SEC) Bill puts Victoria's State Electricity Commission (SEC) into the constitution. It passed the Victorian Parliament today with Greens amendments ensuring that funds from SEC's public ownership are funnelled directly into renewable energy and/or lower power prices.
The Greens' amendment not only drives investment into renewables but it prevents current or future Victorian governments from skimming capital and profits from the SEC into general government revenue in the form of 'dividends'.
As stated by Victorian Greens coal transition spokesperson, Dr Tim Read:
"The Greens have ensured that a publicly owned SEC will drive investment in renewables and lower power prices for Victorians.
"Our changes mean that instead of the underfunded SEC being all spin and pre-election merch, it will actually help reduce power prices.
"The future is clean, renewable energy and the Greens are the ones driving us there.
"These changes to the SEC are a useful step but to tackle the climate crisis, Labor must stop approving new fossil fuel projects and invest real money in cheaper, cleaner, renewable solutions."
