|Description of this AgencyDescription of this Agency|
The SECV Office of the Administrator was established in accordance with section 7 of the Electricity Act 1993 (No.130). The purpose of the Act was to restructure the electricity supply industry. The SECV Office of the Administrator commenced 3 January 1994 to administer the dis-aggregation of the State Electricity Commission of Victoria (SECV) (VA 1002) and its subsequent privatisation. The Act established three Electricity Corporations, split into the following separate businesses: Electricity Services Victoria (distribution), National Energy (later renamed Powernet Victoria) (transmission) and Generation Victoria (generation).
The SECV Office of the Administrator administered the newly formed companies and their assets until they passed into control. It was also responsible for liabilities created by the SECV, including finance, land disposal and property, personnel, wrap-up of outstanding litigation, toxic tort, Loy Yang B Power Station, and SECV records. It was also responsible for the resolution of Electricity Industry disputes.
In May 1996, the Government moved responsibility for electricity, gas and the aluminium industry reform into an integrated Energy Products Division within the Department of Treasury and Finance. This was done to maximise competitive outcomes, and to manage the residual privitization of State-owned electricity assets.
By the year 2000, the Office of the Administrator was responsible for the administration of the residual rights of a number of other former State-owned enterprises in addition the SECV shell, namely the former Gas and Fuel Corporation, the former Port of Melbourne, the former Port of Geelong Authority and the former Port of Portland Authority.
Trading Group (1994 ct)
The Trading Group, administered by the Traders Executive, was the division of the SECV Office of the Administrator responsible for trading in electricity for the wholesale market, i.e., Portland and Point Henry Smelters, Loy Yang B Power Station and other remaining liabilities of the SECV Office of the Administrator. The Trading Group consists of the Loy Yang B Trader, which sold entitlements directly into the Wholesale Electricity Market Pool; the Smelter Trader, which bought energy from the wholesale pool to satisfy the power needs of the Portland and Point Henry Smelter and the Snowy Trader, which sold energy entitlements into the wholesale pool.