State Electricity Commission of Victoria

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The State Electricity Commission of Victoria (SECV or SEC) was an electricity generation, transmission and supply utility which operated as a monopoly within the State of Victoria, Australia. In 1994, the SECV was divided into multiple businesses and privatised.

[edit] History

The Electricity Commissioners were established by an act of the Victorian State Parliament in 1918^<1> and became the State Electricity Commission (known as the SEC, or SECV) in 1921^<2> . The SEC ultimately controlled electricity generation, transmission and distribution throughout the State of Victoria with the exception of some inner urban areas of Melbourne which had Council-controlled distribution companies known as Municipal Electricity Undertakings (MEUs).

In 1994, the State Government disaggregated the SECV into 5 distribution and retail companies, (absorbing the MEUs in the process), 5 generation companies, and a transmission company. Along with other state-owned utilities (such as the Gas and Fuel Corporation of Victoria, these businesses were all corporatised, then privatised between 1995 and 1999.

The only entities remaining in State Government ownership was the wholesale market operator Victorian Power Exchange (VPX) and the SECV shell. VPX was subsequently reorganised with its market and system operation functions being transferred to the National Electricity Market Management Company (NEMMCO and its transmission planning functions being transferred to VENCorp.

Currently, the Essential Services Commission of Victoria is responsible for the regulation of distribution and retail businesses and the Australian Energy Regulator is responsible for regulating transmission and the wholesale electricity market.