Victoria’s high-profile State Electricity Commission (SEC) advisory team has been disbanded less than a year after its establishment. 

The expert team appointed by the Labor government boasted prominent figures such as former chief scientist Alan Finkel and former Telstra CEO Andy Penn, alongside other distinguished members.

The dissolution of the six-member “expert advisory panel” in October, confirmed by the Allan government, came after the completion of a strategic blueprint for the state-owned SEC and the provision of legal and governance structure advice. 

For some, the development casts a shadow over the commission's credibility, which had been a key promise of the 2022 election campaign by then-Premier Daniel Andrews. 

Andrews had pledged that the SEC would reduce energy bills for households and businesses and strengthen the supply within Australia’s most taxed energy grid.

Critics, including industry insiders, had dismissed the SEC revival as an election tactic lacking in concrete policy foundation or clear objectives. 

Despite the government’s $1 billion initial commitment to the SEC for renewable energy projects, the commission has struggled to make significant investments or impact Victoria’s energy security, with the exception of a $245 million investment in a “super battery” near Melbourne.

The advisory panel’s disbandment, coupled with Dr Finkel's earlier departure for “personal reasons”, raises concerns about the SEC's direction and substance. 

Premier Jacinta Allan’s recent move to position the SEC as a competitive entity in the Victorian energy market, aiming to divert up to $500 million annually from existing retailers, has stirred the industry. 

The SEC’s restructuring comes amidst Victoria’s legislative efforts to replace the historical SEC entity, promising a new permanent chief executive and board.