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VENCorp Review
A review of the Victorian Energy Networks Corporation (VENCorp) was required under gas industry legislation when VENCorp was established in 1997. The review, conducted in 2006, assessed VENCORP's then functions and services, including the operation, planning and development of Victoria’s electricity and gas transmission systems.
Current Status of VENCorp Functions
Since the VENCorp review, the functions of VENCorp have been transferred to the new Australian Energy Market Operator (AEMO). This occurred on 1 July 2009 following a COAG decision in February 2007 to co-locate all statutory energy market operation and planning functions in a single national body.
VENCorp Review Information on this page
Government Response to Final Report
This paper outlines the Government's approach to implementing the outcomes of the Statutory Review of the Victorian Energy Networks Corporation (VENCorp) (PDF 27Kb).
To view the PDF documents you will need Adobe Acrobat Reader. A free copy can be downloaded from Adobe Acrobat (external link).
Background
VENCorp is a non-profit statutory Corporation established in December 1997 under Part 8 of the Gas Industry Act (external link). VENCorp was established as part of the Victorian energy industry reforms in the 1990s. The reforms disaggregated and commercialised previously vertically integrated electricity and gas supply systems, and the relevant transmission system operation and planning functions were vested in VENCorp.
The Government commissioned The Allen Consulting Group (external link) to undertake the review. The media release by the then Minister for Energy Industries, the terms of reference for the review and a background document on VENCorp are available below. Also available is a scoping paper by the Allen Consulting Group for the review of VENCorp.
Purpose
The general purpose of the Review was to assess VENCorp's role in the Victorian energy sector. The review involved extensive public consultation. The review had regard to the Government’s energy policy objective of a safe, secure, sustainable and reliable supply of energy for all Victorians at fair and reasonable prices.
Issues Paper
An Issues Paper (PDF 610Kb) was released on 11 July 2006. The Issues Paper documents and responses are now available to view.
VENCorp Review - Terms of Reference (PDF 74Kb)
VENCorp Review Background Document (PDF 13Kb)
VENCorp Review - Scoping Paper (PDF 457Kb)
VENCorp Review - Issues Paper Responses
Stakeholders were encouraged to make submissions responding to the issues raised in the paper. The closing date for submissions was 14 August 2006, and the following submissions were received:
AGL
 (PDF 61kb) | Energy Supply Association of Australia
 (PDF 52kb) | Energy Users Association of Australia
 (PDF 95kb) |
LATI Group
 (PDF 847kb) | Origin Energy
 (PDF 72kb) | Powerlink
 (PDF 1100kb) |
SP Ausnet
 (PDF 433kb) | Transgrid
 (PDF 115kb) | Transgrid (KPMG)
 (PDF 107kb) |
TRUenergy
 (PDF 23kb) | TRUenergy Gas Storage
 (PDF 31kb) |  |
Media Release
5 May 2006
Review of Victorian Energy Networks Corporation (external link)
More Information
AEMO (external link)
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