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Victorian Power Exchange
The Victorian Power Exchange (VPX) was established in 1995 by the Victoria State Government as part of a restructuring of the State Electricity Commission of Victoria (SECV) and the establishment of a competitive electricity market. Overview Its functions were to monitor and control the wholesale power exchange; ensure security of the power system; and plan and direct the augmentation of the transmission system within Victoria. The design of the electricity market and the operation of the power exchange formed the basis for the National Electricity Market. VPX was a not-for-profit corporation owned by the Government of Victoria. The board of directors comprised representatives of the electricity industry and independent members. VPX was wound up in 1998 with the establishment of NEMMCO and the commencement of the National Electricity Market. VPX's transmission planning function was transferred to VENCorp The Victorian Energy Networks Corporation (VENCorp) was a Victorian S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victoria State Government
The Victoria State Government, also referred to as just the Victorian Government, is the state-level authority for Victoria, Australia. Like all state governments, it is formed by three independent branches: the executive, the judicial, and the parliament. As a parliamentary constitutional monarchy, the State Government was first formed in 1851 when Victoria first gained the right to responsible government. The Constitution of Australia regulates the relationship between the Victorian Government and the Australian Government, and cedes legislative and judicial supremacy to the federal government on conflicting matters. The Victoria State Government enforces acts passed by the parliament through government departments, statutory authorities, and other public agencies. The Government is formally presided over by the Governor, who exercises executive authority granted by the state's constitution through the Executive Council, a body consisting of senior cabinet ministers. In r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Electricity Commission Of Victoria
The State Electricity Commission of Victoria (SECV, ECV or SEC) is a government-owned electricity supplier in Victoria, Australia. It was set up in 1918, and by 1972 it was the sole agency in the state for electricity generation, transmission, distribution and supply. Control of the SECV was by a Board of Commissioners appointed by the Victorian Government. After 1993, the SECV was disaggregated into generation, transmission and distribution companies, which were further split and then privatised in the mid to late 1990s. However, electricity supply agreements with the Portland and Point Henry aluminium smelters were retained by SECV, which continued as their electricity supplier. In 2022, Victorian Premier Daniel Andrews pledged to revive the SEC as a government owned entity. Background When electricity generation first became practical, the main uses were lighting of public buildings, street lighting and later, electric trams. As a result, electricity generation and distr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Electricity Market
The National Electricity Market (NEM) is an arrangement in Australia's electricity sector for the connection of the electricity transmission grids of the eastern and southern Australia states and territories to create a cross-state wholesale electricity market. The Australian Energy Market Commission develops and maintains the Australian National Electricity Rules (NER), which have the force of law in the states and territories participating in NEM. The Rules are enforced by the Australian Energy Regulator. The day-to-day management of NEM is performed by the Australian Energy Market Operator. NEM operations began on 13 December 1998 and currently covers Queensland, New South Wales, Australian Capital Territory, Victoria, Tasmania and South Australia. Western Australia and the Northern Territory are not connected to the NEM. The NEM comprises five regions, with the ACT being in the NSW region. Tasmania joined the NEM in May 2005 and became fully operational on 29 April 2006 when ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Not-for-profit
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NEMMCO
The National Electricity Market Management Company Limited (NEMMCO) was established in 1996 to administer and manage the Australian National Electricity Market (NEM). It was the market operator for the NEM. The governments of Queensland, New South Wales, the Australian Capital Territory, Victoria, South Australia and Tasmania were members of NEMMCO; and each nominated a director to the NEMMCO board. NEMMCO was a company under Corporations law. It operated on a break-even basis by recovering the costs of operating the NEM and running the organisation by levying fees against market participants. The fees were complex, and comprised both fixed and variable components that took into account the type of participant and their share of trade in the market. The structure of fees payable to NEMMCO was determined periodically, while the actual fee levels were set annually. NEMMCO managed the market and power system from two control centres in different states. Both centres operated aroun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
VENCorp
The Victorian Energy Networks Corporation (VENCorp) was a Victorian State Government-owned entity established in December 1997 responsible for the efficient operation of gas and electricity industries in Victoria, Australia, within Victoria's privatised energy industries. It was funded by energy industry participants. Functions VENCorp had major operational, planning and development roles for both gas and electricity, the key being: * independent system operator for the Victorian gas transmission network * manager and developer of the Victorian wholesale gas market * system planner providing planning services for the gas and electricity industries. History Since the 1950s, the Gas and Fuel Corporation was a government-owned monopoly supplier of household gas in Victoria. In 1965, natural gas was discovered in Bass Strait, and the Corporation undertook a conversion program, which took over 20-months ending in December 1970, to convert around one million appliances to operate on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisations Based In Victoria (Australia)
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
