Government ownership of a re-booted State Electricity Commission would be enshrined into Victoria's constitution if the Labor government is returned to power.
Speaking at Yallourn in the state's east on Tuesday, Premier Daniel Andrews promised to safeguard the commission from privatisation.
"The last thing we want to do is build this up, make it better than it's ever been - for people, not profit - to then have a future Liberal government," he told reporters.
"They simply wouldn't be able to resist selling off such a big and successful entity and turning it again into a profit centre for multinational companies."
Once the commission is enshrined in the constitution, the Premier said it would take a special majority for a future government to remove it.
The government has made a big push this election about how it would re-establish state-owned energy, mostly from renewable sources.
Meanwhile, Liberal leader Matthew Guy announced a $5 million overhaul of Federation Square to transform undecked railway land into brand new urban parkland.
He said Federation East had been a wasteland for 20 years and likened the new project to parkland on the Brisbane River.
"We're going to do the same with the banks of the Yarra in Melbourne," he told reporters on Tuesday.
"It's going to be my mission in government to make Melbourne the world's most liveable city."
The promises come as a new opinion poll shows Labor has lost skin amongst voters.
The Resolve Strategic poll published in The Age on Tuesday signals the government led by Mr Andrews could lose between eight and 12 seats in Saturday's vote.
On the primary vote measure, the coalition has drawn level with Labor with 36 per cent apiece.
On a two-party preferred basis, Labor is ahead on 53 per cent compared to 47 per cent for Mr Guy's opposition.
While the measures show the coalition has closed or narrowed the gap with Labor, Mr Andrews could still be returned as premier albeit with a reduced majority or even as the leader of a minority government.
The premier on Tuesday maintained he would not do deals with the Greens or independents if he is elected in minority.
In the last few days tensions have been rife between the major parties, with both attacking each other over the political views or stances of certain candidates.
Mr Guy on Monday pleaded with Victorian voters to back his "safe" and "centrist" party, after he had to distance himself from Liberal candidates labelled as "extremists".
The Liberal leader pointed to party policies to fix the health system, tackle cost of living pressures and giving Victorians a "fresh start".
Meanwhile, Deputy Liberal Leader David Southwick demanded Mr Andrews apologise for using the term Nazi when describing some of the candidates running for parliament.
Mr Andrews doubled down, saying the Liberal Party was preferencing extremists and should itself apologise.
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