Electricity generation was a major part of the second Industrial Revolution circa 1880-1900. It modernised factories, improved living conditions in homes, reduced crime (by lighting the streets at night) and was sometimes exported regionally (I believe the Belgians exported electricity to West Germany, or visa versa.)
Another missing 'second wave' staple would be chemicals.
The game 'Imperialism' had a simplistic but fun mechanism late in the game where you could build and upgrade a power station that processed fuel into 'labour' which, if you hammered fuel production and upgraded aggressively could all but free you from the constraints of the labour pool.
I'm not saying that would work in Vic, but a province flag for electrical reach similar to roads in EU3, with or without power plants, could really add some edge to late industry.