Changes to program fees and commencement of new legislative provisions on 1 November 2023

31 October 2023

On 1 November 2023, changes to the Victorian Energy Upgrades (VEU) program fees, along with remaining provisions (relating to a new VEET scheme registry account) of the Victorian Energy Efficiency Target (VEET) Amendment Act 2022 will come into effect.

The fee changes affect accredited persons and other VEU account holders and are in addition to program and fee changes that commenced on 1 July 2023. 

Changes to program fees

Earlier in 2023, the Victorian Government consulted on a proposal to change fees associated with the VEU Program. The outcomes were communicated to all VEU program stakeholders in May 2023. 

In line with the government’s cost recovery policy, fees were adjusted to better reflect the costs of administering and regulating the VEU program. 

The table below summarises all fee changes from 1 July and 1 November 2023. Fee changes commencing on 1 November 2023 are highlighted in bold.

Changes to existing fees payable by accredited persons

New fees payable by accredited persons

Other new or recent fee changes

Other important information about fee and process changes commencing on 1 November

Changes to invoicing and payment of VEEC creation fees

An important change from 1 November is the increase in Victorian Energy Efficiency Certificate (VEEC) creation fees – from $1 per certificate to $2.33 per certificate. 

There are also changes to when that fee is invoiced – requiring payment of the fee is required before the certificate will be processed for registration. This fee will apply for every certificate created, regardless of whether it is successfully registered. 

We issue invoices on Tuesdays and Thursdays each week for VEECs created before 6am on the day.  If an activity you created is returned to you as an external duplicate, you will need to withdraw the activity in the VEU registry system before the 6 am invoicing deadline on Tuesdays and Thursdays or the fee will be charged.

A recent webinar describing this process is available on our website here. 

Introduction of VEET Scheme Registry Accounts – new requirement for people who hold, transfer and surrender VEECs

From 1 November 2023, people who hold, transfer and surrender VEECs will be required to obtain a VEET Scheme Registry Account. This includes accredited persons, relevant entities (energy retailers) and other parties that hold or transfer VEECs (such as VEEC traders). 

If you held VEECs on 1 November 2023, you have one year to obtain your registry account. The VEU program team will support this process and more information will be provided soon.

If you currently hold VEECs, but do not wish to obtain a registry account you must sell or transfer VEECs you hold by 1 November 2024. 

What this means for accredited persons

For current or prospective accredited persons, you can obtain your registry account as part of your accreditation or renewal process. There will be no additional fee.

What this means for relevant entities (energy retailers)

Relevant entities will receive separate communications about a streamlined application for a registry account.

What this means for VEEC traders or other parties holding VEECs

VEEC traders can find out more about the registry account application process here. We will provide further communications in early 2024 to support the process.

Revised process to vary accreditation conditions (applying to participate in additional activities)

From 1 November 2023, a new $1,500 application fee will apply when accredited persons seek to vary their accreditation conditions, including activities they can undertake and other accreditation conditions.

This will only apply to existing accredited persons once they have successfully renewed their accreditation. 

Where to get help

Contact the Victorian Energy Upgrades program support team if you have any questions about this update by either:
•    phone: (03) 9032 1310
•    email: veu@esc.vic.gov.au