Vic - Veet Scheme

The Victorian Government are looking to find ways to reduce the carbon emissions in the state of Victoria. The initiative is designed to make energy efficiency improvements more affordable and contribute to the reduction of greenhouse gases.

Under the initiative, Accredited Persons (AP's) can offer discounts and special offers on selected energy saving products. The bigger the greenhouse gas reduction, the bigger the potential saving.

The scheme operated by placing a liability on a large energy retailers in Victoria to surrender a specified number of Victorian Energy Efficiency Certificates (VEEC) every year. Energy retailers with a liability under the scheme are known as relevant entities:

  • They can either create the certificates directly, or;
  • Purchase the certificates in a competitive market, or;
  • Create and purchase the certificates.

The initiative allows AP’s to create VEECs when they help energy consumers make selected energy efficiency improvements to their homes, business premises or other non-residential premises. These are known as prescribed activities.

It is through the revenue generated by the sale of the VEECs, which enables AP’s to offer energy efficiency improvements