The Gas and Fuel Corporation was established by the Gas and Fuel Act 1950 (No.5507) which was proclaimed in 1951. The Act amalgamated the Metropolitan Gas Company and the Brighton Gas Company to form the Corporation. The Gas and Fuel Corporation was a public authority of the State owned jointly by the Government and share holders.
From 1953 to 1974 the Corporation gradually purchased local municipal and company gas works including the Gas Supply Company's Victorian undertakings in 1970 and the Geelong Gas Company in 1971.
In 1991, the Government commissioned a study aimed at improving the performance of the Gas and Fuel Corporation. As a result of this study (Cresap, October 1991, Strategic and Organisational Review Final Report for the Gas and Fuel Corporation of Victoria) the Gas and Fuel Corporation was restructured into discrete business units such as corporate, transmission, distribution, retail and Heatane Gas.
The Gas Industry Act 1994 (Act No. 112/1994) was introduced to enable the complete corporatisation of the former Gas and Fuel Corporation. This legislation resulted in the further restructure of the Gas and Fuel Corporation into two parts. The Gas Transmission Corporation (GTC) - later renamed Transmission Pipelines Australia which was the manager of the main high-pressure gas pipelines and GASCOR, which operated the low pressure distribution assets, the gas retail function, consulting services and the Gasmart appliance retail business.
GASCOR was established on 20 December 1994 and continued to trade as the Gas and Fuel. The former Gas and Fuel Corporation was formally wound up on 21 June 1995.