Victoria’s booming renewable energy sector is getting a shot in the arm, with the Essential Services Commission cutting red tape for new power generators and retailers to fast track their entry into the market.
The changes could halve the time it takes to process licence applications.
Commission chair Kate Symons says renewable energy is a key part of Victoria’s future and it is vitally important to ensure new generators and retailers can enter the market in a timely manner.
“There is tremendous potential for renewable energy in Victoria and we expect the current high number of applications for generation licences to continue.
“We want to be able to approve licence applications that meet our requirements in a timely way so they can get on with the job of producing clean renewable energy,” she said.
Ms Symons says the reforms will significantly speed up application processing times, fostering a more competitive and reliable energy market.
“The new process will give applicants more clarity, transparency and certainty about what is required to hold an energy licence in Victoria.
“We expect this to significantly speed up application processing times and support continuing growth in the renewable energy market,” she said.
Interest in generating and selling renewable energy in Victoria has increased significantly in the past four years, with licence applications increasing more than 300 per cent.
From 2017 to 2020, applications for renewable energy generation licenses increased from 2 to 8, while retail applications for gas and electricity increased from 4 to 13.
Number of energy licence applications approved 2017–2020