In 1990, neo-liberal think tanks the Institute of Public Affairs and the Tasman Institute collaborated with 13 employer associations to form 'Project Victoria' - a venture which outlined a neo-liberal agenda for the incoming Victorian (Coalition) Government. This article analyses Project Victoria and the privatisation of Victoria's electricity industry as a case study of the impact of neo-liberal think tanks. The analysis of Project Victoria highlights three main aspects of the impact of neo-liberal think tanks in contemporary Australia. First, neo-liberal think tanks are inextricably bound to the interests of business. Second, neo-liberal think tanks provide a broad framework within which sympathetic governments can convert the sectional interests of business and elites into policy and rhetoric. Third, the think tanks play an important role as shock troops for neo-liberalism.