Market Update | 16 August

• Strategic Review of the Victorian Energy Upgrades Program
• Australia’s 2030 Energy Transition Targets Labeled ‘Crucial’
• NSW Energy Saving Scheme and Peak Demand Reduction Scheme Consultations Now Open

Strategic Review of the Victorian Energy Upgrades Program – Terms of Reference Released.

The Victorian Government has invested $5.9 million for a strategic review of the Victorian Energy Upgrades (VEU) program, aimed at enhancing its role in electrifying homes and businesses, lowering energy costs, and reducing emissions.

Solar Victoria announced the Terms of Reference (ToR) for this review are now finalised, and an expert advisory has been appointed.

The review will asses how to strengthen the VEU program to better support government goals on electrification, energy affordability, and emissions reductions. It will also explore ways to enhance consumer protection, broader participation, and ensure program integrity.

Stakeholder engagement details will be released soon. You can engage with the review by contacting energy.upgrades@deeca.vic.gov.au.

Australia’s 2030 Energy Transition Targets Labeled ‘Crucial’.

Australia’s 2030 energy transition targets have been labeled crucial by Brett Wickham for attracting offshore capital and boosting regional economies. He warned that abandoning these targets, as proposed by Opposition Leader Peter Dutton, could make Australia less appealing to investors, ultimately diverting capital to other countries committed to renewable energy.

Without these targets, Australia could lose its appeal to global investors, missing out on growth and job creation, especially in regional areas.

NSW Energy Saving Scheme and Peak Demand Reduction Scheme Consultations Now Open.

The consultations for the New South Wales Energy Saving Scheme (ESS) and Peak Demand Reduction Scheme (PDRS) are now open. This is an opportunity to provide input, with the consultations closing on 6 September.

The feedback gathered during this consultation period will play a vital role in shaping the direction of these programs. You can find more information here.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.