Victoria to reinstate the SEC

[Trevor 57]

wow, I was shocked and pleased yesterday when the State Government said they are going to pull the power system out of the private sector and put it back into the public sector - about time. Reinvigorating the State Electricity Commission (SEC). Power prices have gone out of control and infrastructure left to rot. The black Saturday fires were directly attributed to lack of maintenance of power infrastructure which was in private control.

I know it is a lot about renewables, but power, water & gas needs to remain in the public sector. Public sector was once the biggest employer of apprentices, rail, tram, power, gas & water

[Trevor 57]

Sorry, should have added a link or 2

https://www.abc.net.au/news/2022-10-...dge-/101556130

https://www.afr.com/companies/energy...0221020-p5brci

‘These assets should never have been sold’

But Mr Andrews blamed private energy companies for gaming the system and “pocketing” $23 billion in profits and said that any SEC profits would go back into keeping power bills down in what he premier called the “most significant energy announcement in our state in 30 years”.

“These assets should never have been sold,” Mr Andrews said. “No one has won out from that except shareholders and private companies who are about profit, that’s their job, this is not a business, this is essential,” he said.

“Decades ago, the Liberal Party decided to sell off our power to the highest bidder, those companies that bought our coal-fired power stations decades ago ... have made $23 billion in profits off pensioners, off families and businesses, right across our state.”

[Itsme]

Only 51% controlled by government, sounds like it will be like Australia Post style of business which means SFA. Does not mean lower prices.

[russellw]

It's somewhat ironic that a body as inefficient and wasteful as the SEC was is still a better proposition than having it privately run. It was a very bad call at the time because the deal didn't require the distributors to reinvest in the grid which is why we are where we are today and the profits have long been sent off-shore.

Of course, it's fine to say with the benefit of hindsight that the asset sales should never have gone ahead but if they hadn't then the State would have been bankrupt so it's hard to know which is the lesser of evils.

It will take a decade at least to improve the infrastructure and not without significant Government investment with the unanswered question being what is it going to cost to get even 51% of the current network out of the hands of the private industry?

[marty351]

Would be great if govco could implement nuclear green energy as base load supply. We need to ensure a constant and reliable source electricity and remove unneeded anxiety of our future.
It would also be interesting if the private sector continue to persue certain "green energy initiatives" with or without subsidies.

[zilo]

Sounds like an election distraction to me.

[Trevor 57]

Don't both sides do that?

[tweeked]

They can’t even dig a tunnel, can’t see how having them involved in something like that these days will work. Governments are inept at running anything like this. And i am not saying the current businesses are doing it well.

[Trevor 57]

Originally Posted by tweeked

They can’t even dig a tunnel, can’t see how having them involved in something like that these days will work. Governments are inept at running anything like this. And i am not saying the current businesses are doing it well.

How do you know, it was all sold by Kennett, long before Dan

[T3rminator]

https://twitter.com/jeff_kennett/sta...28096342994944

[Trevor 57]

Originally Posted by T3rminator

https://twitter.com/jeff_kennett/sta...28096342994944

it appears Jeff has more 'haters' than Dan does - not good feedback at all for good 'ol Jeff. Might be best for him to stay out of politics

I know he has been dirty on Victorian for booting him out all those years ago, and he still blames the education sector. It is a well known fact, cut education and health and you will get booted - pretty simple

[zilo]

Originally Posted by Trevor 57

it appears Jeff has more 'haters' than Dan does - not good feedback at all for good 'ol Jeff. Might be best for him to stay out of politics

I know he has been dirty on Victorian for booting him out all those years ago, and he still blames the education sector. It is a well known fact, cut education and health and you will get booted - pretty simple

I recall election night and the commentators saying..."hey look at these numbers, and look at a map of Citylink...even safe blue ribbon seats were falling like dominoes"

The same happened to the other mob when they tolled the Westgate with those stupid 20c toll booths.

[tweeked]

Originally Posted by Trevor 57

How do you know, it was all sold by Kennett, long before Dan

I said governments, I didn't even consider a party.

[zipping]

Originally Posted by Trevor 57

How do you know, it was all sold by Kennett, long before Dan

Not entirely accurate

The Kirner government were quite the privatisers themselves as they needed the cash for their spending and budget short falls

They started the process of selling Loy Yang B before the 92 election and managed to balls it up from memory so badly that the sale was completed by Kennett government

The election was 2 oct 92 and Loy Yang B sold in Nov 5-7 weeks later

Federally Keating sold the Moomba to Sydney gas pipeline in 94, both parties were privatising.

[zipping]

The main problem with going back to the SEC government type of ownership is that should the SEC on behalf of the government invest in obsolete or white elephant type of power generation the entire risk will be born by the tax payer

The main advantage of leaving it in private hands is that if they fk up its on them.

Back in the day it was solely coal, gas and hydro pretty straight forward.

One good thing about it going back to the gov is that should the grid fail for any reason we know who to blame as they have taken total responsibility from design of to ownership of the system

Probably the Desal plant is an indicator of what the SEC will be like. If you think that was value for money and the gov did a good job u will support the SEC.

[Trevor 57]

Geez, I didn't know Dan was underground with his Cabinet digging tunnels - unreal, how does he find the time do all this stuff - the man is a legend

[Trevor 57]

This is getting off track and into the realms of politics and the mods won't like it, so we we need to keep talking about the Victoria State Governments proposal to reinvent the SEC with a 'renewable' flavour

[Charliewool]

The greatest electoral CON ever!
Can just imagine these bozos sitting around the table throwing around ideas to attract the plebs?
“How about free beer for a month?”
(Ahh, nope.. might attract the attention of the wowser party)
“I know… let’s mandate to fill in all potholes & reseal all the roads?”
(Ahh, nope… bad idea, we’re already “supposed” to be doing that one)
“Me me.. I know.. I’ve got it!.. Let’s re-invent the SEC dinosaur and pretend that it’ll generate its own electricity out of tumbleweeds and fairyfloss instead of real power stations, and cost bugga all?”
D.A… “Bloody brilliant idea.. I’ve even got my old SEC jacket from me union picketing days that I’ll wear at all the press conferences!”

What a load of tripe!… How bloody stoopid do they think we all are?

https://www.afr.com/companies/infras...0221118-p5bziv

[Charliewool]

Oh, and where do we get the money to pay for our “new” SEC?
“I know, I know!.. let’s sell the Ports of Melbourne, Vicroads, and The Land Titles Office”
“Anyhow.. who cares?.. what’s another 30 or 40 billion or so debt?”

[T3rminator]

Everything comes with a price. If it didn't, then it'd be a no brainer and everyone would be doing it.

Voters will need decide if they are willing to pay that price now for the nugget at the end.

Price of fossil fuels seems to be going only in one direction.

[FoxtrotGolfXray 5.0]

Interesting the perspectives on this, especially going into a State election. There's an ad on spotify from the ETU bagging the Libs for privatising the electricity industry in Vic and how the resurrecting of the SEC will lower prices and create jobs. Funny, two reasons why the SEC was privatised was because it cut waste (I recall the SEC standing for Slow, Easy Comfortable, even by those who worked in that sector) and was supposed to make the market more competitive, thus lowering costs.

On the other hand, there's banners on Weatherzone today from the Nats saying that the resurrection of the SEC will cut jobs in the Latrobe Valley and how us voters shouldn't let Dan get away with it.

Is it any wonder why so many people are confused with our political system?

[jmack]

didnt dan sell our share of snowy hydro,a renewable power source

[Trevor 57]

evidence please

[DJR-351]

Originally Posted by Trevor 57

evidence please

Evidence of what?

[tweeked]

Originally Posted by Trevor 57

evidence please

This?


https://www.premier.vic.gov.au/parli...all-victorians

[Trevor 57]

Originally Posted by tweeked

This?


https://www.premier.vic.gov.au/parli...all-victorians

So, what is the downside?

[tweeked]

Originally Posted by Trevor 57

So, what is the downside?

I didn't say there was. You asked for evidence. The normal response after asking for something and receiving would be "Thankyou".

[Charliewool]

The Andrews Labor Government’s privatisations from 2016-2018 include:
• Port of Melbourne – $9.7 billion
• Land Titles Office – $2 billion (estimated)
• Snowy Hydro – $2.1 billion
• Federation Square – $0.1 billion
* Vicroads - $7.9 billion (2022)
The Andrews Labor Government is also in the process of privatising public housing estates, community services such as Disability Group Homes and it continues to sell-off public land.

[Trevor 57]

Thank you

[Charliewool]

Con Gusto..