Complex sentence: 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.
Split into simpler sentences: The Victorian Energy Networks Corporation (VENCorp) was responsible for the efficient operation of gas and electricity industries in Victoria, Australia. VENCorp, which was established in December 1997, was a Victorian State Government-owned entity within Victoria's privatised energy industries.