We work to keep the lights on, at an affordable price for most people, while also looking for ways to minimise the impact of our energy use on the environment.
The four key objectives of Victoria's energy policy are:
Ensure an efficient and secure energy system.
This requires ongoing investment in the supply of energy and the efficient use of those supplies. We need to provide for the states economic and social well being as cost-effectively as possible.
Ensure those supplies are delivered reliably and safely.
The reliable distribution of energy is an ongoing challenge, particularly for electricity, which cannot be stored on a significant scale. Fossil fuels and electricity are inherently hazardous, so they must be distributed and used safely.
Ensure consumers can access energy at affordable prices.
The Government is committed to ensuring that all consumers, especially low-income earners, can access essential energy services at affordable prices.
Ensure our energy supplies and the way we use them are environmentally sustainable and in particular less greenhouse intensive.
Achieving sustainability is a key challenge for Victoria. We generate most of our low cost electricity from brown coal, which brings major economic benefits but also contributes about half of our greenhouse gas emissions. We have to find ways to ensure our mix of energy sources and our use of them minimises damage to the environment and economy and in particular reduce the intensity of our greenhouse gas emissions.
Implementation of policy
We are working to achieve the Government's energy policy objectives in a number of ways, including:
- taking a lead role in the National Energy Market Reform process
- facilitating energy supply security through investment in new supplies and improved demand side responses
- managing the Governments response to energy supply emergencies
- facilitating effective competition in energy retailing, and maintaining a safety net of consumer protection
- over sighting the work and governance of market institutions and economic, safety and technical regulators
- developing integrated policies for energy sustainability with Sustainability Victoria.