Market Update | 26 April

• IPART releases ESS Notice on Refrigerated Cabinet activity compliance
• 15 peak industry groups support mandatory climate-related disclosures
• VEU telemarketing ban recap

ESS Refrigerated Cabinet Activity Compliance Notice

The Independent Pricing and Regulatory Tribunal (IPART) has released a compliance notice in response to concerns raised by stakeholders, including the Energy Savings Industry Association (ESIA), regarding potential non-compliance under Activities F1.1 and F1.2 of the Energy Savings Scheme (ESS).

The two main points addressed in the notice were;

1. The replacement of units under the same class as the installed product under F1.2 and
2. The provision and installation of units that are fit-for-purpose for the intended use by customers under F1.1.

In both instances, IPART have reiterated the need for installations to reflect the expected energy savings implicit in the energy savings calculations that underpin the activity.

Accredited Certificate Providers (ACPs) are expected to maintain and provide upon request clear evidence of each installation meeting the upgrade environment requirements.

Also included in the notice was a reminder that regulatory action includes accreditation suspension, civil penalties and prosecution for ACPs found to have conducted wilful, serious or repeated non-compliance.

Potential non-compliance can be reported to ess.compliance@ipart.nsw.gov.au.

Peak Industry Groups Support Mandatory Climate Disclosure

A group of 15 peak industry bodies spanning across business, finance and retail have banded together to support the passage of the proposed amendments to the Federal Government’s Climate Reporting Bill.

Representing over $80 trillion in assets under management, the group has highlighted the importance of a high-quality climate reporting framework that aligns with international standards.

While acknowledging the significant investment and upskilling required, a total of 56 nationally significant risks have been identified that could result in large-scale financial risks during the transition to a net zero economy.

This comes as this financial year’s reporting period will see many organisations to prepare the first of year-end reports required to comply with climate-related disclosure standards.

VEU Telemarketing Ban Recap

On Wednesday next week (1 May 2024), the ban on cold-calling customers to spruik products under the Victorian Energy Upgrades (VEU) Program will come into effect.

The ban is part of a raft of changes aimed to clean up the image of the VEU program in the eyes of customers, with a similar ban to doorknocking due to take place later this year, from 1 August.

The telemarketing ban will require Accredited Persons (APs) to maintain clear evidence that customers have provided express consent to be contacted about the specfic VEU product being sold prior to calling them.

For access to the industry webinar held by the VEU, please click here.

Ecovantage will work with its partners to tailor their existing customer acquisition processes to ensure compliance with the regulator’s requirements.