Former chief scientist Alan Finkel has resigned from his advisory role at Victoria's State Electricity Commission (SEC).

Dr Finkel, who played significant roles in various energy initiatives, has confirmed his departure citing “personal reasons”. 

He had previously expressed concerns about the need to balance public and private sector funding. 

The SEC's CEO acknowledged the possibility of rising energy prices, contrary to Premier Daniel Andrews' promise to lower prices. 

The SEC, which was reinstated as a key election pledge, is still searching for its first project amidst growing concerns of insufficient investments and the country's failure to achieve emission reduction targets.

Energy experts, including Tony Wood from the Grattan Institute, have criticised the SEC for its inadequate funding, while others, such as former premier Denis Napthine and Liberal energy spokesman David Hodgett, deemed it a failure.

The SEC, aimed at delivering 4.5 gigawatts of renewable energy, received an initial $1 billion commitment from the Andrews government. 

However, CEO Chris Miller stated that the SEC was facing challenges due to the drying up of major renewable investments. 

Miller said there is a need for careful planning and expressed concerns about the lack of financial commitments in the first quarter of the year.

Daniel Westerman, CEO of the Australian Energy Market Operator (AEMO), warns that the transition to clean electricity supply is not happening quickly enough to replace closing coal power stations. 

This comes as the country is projected to miss its 2030 climate targets. 

Experts including Tony Wood have criticised the government's lack of integrated policies and suggested a need to address the issue to make progress in the energy sector.