VEEC: Following the market’s decline off the back of the VEU’s consultation release regarding lowered targets for 2025 and 2026, the spot market has steadily increased while firm upward pressure remains amid low supply. While the proposed targets would see 5 million for 2026 and 6 million for 2027 (7.1 million currently for 2024), only 4.63 million VEECs have been created year to date. This indicates that the likelihood of over creation beyond the target with the current set of activities is low, and a level of upward pressure on the price may remain.

STC: The STC market was quiet again this week, however, yesterday the clearing house entered a surplus of 110k as a result of higher end of year creation. This resulted in a lift in the spot by $0.05.

ESC: The ESC market gained gentle traction this week, stepping upwards to a high of $14.70 with fluctuations occurring between $14.40 to $14.60 throughout the majority of the week. Creation was slightly higher for the week at 105k, which is routine for this time of year.

LGC: The LGC market saw yet another week of elevated volatility with an average of 2.80% in the spot and 1.27% across the forward curve. Higher levels of creation are routine for December as sites ensure than certificates are created prior to 31 December to secure the 2024 vintage. In 2023 a total of 48.9 million LGCs were registered across the year, while a total of 47.8 million LGCs have been created in 2024 to date.

ACCU: Spot ACCUs in the generic and HIR spots have trended downwards over the past weeks following a brief period above $40.00. Both markets began the week above $38.00 before softening late in the week.

PRC: PRCs broke their period of stability on Thursday this week following IPART’s announcement that heat pumps will no longer be an eligible activity under the PDRS, restricting activity anticipated for tanks above 425L in the year to come. While this decision being made effective immediately is potentially damaging for companies with existing stock and customers with an expectation of gaining a rebate, it lends to a reduced risk of further market oversupply. In response to this the market jumped to a high of $2.51 in the spot before settling to $2.50 for multiple trades.

See below for pricing updates for each certificate.

As Australia’s most versitile Accredited Certificate Provider (ACP), Ecovantage maintains strong market analytics to keep our partners and clients on top of the certificate market. Below is the current spot price tracking and price charts across the federal and state energy certificates.

Pricing and summary is accurate as of the time of publishing. Pricing and charts are automatically generated daily.
Ecovantage is not liable for any errors or changes in the figures provided.

Victorian Energy Upgrades Program (VEU)

Victorian Energy Efficiency Certificates (VEECs) are credits issued under the Victorian Energy Energy Efficiency Target (VEET) scheme for eligible energy upgrades, from large commercial and industrial sites down to individual homes. The quantity of VEECs issued is based on the amount of calculated greenhouse gas emissions avoided through the upgrade.

NSW Energy Savings Scheme (ESS)

Energy Savings Certificates (ESCs) are a tradable certificate issued for electricity, gas, and other energy savings that result from a technology upgrade or modification.

ESCs are created under the New South Wales Government’s Energy Savings Scheme (ESS) and are available only to projects within the state. ESCs are used as a market-based mechanism to increase the implementation of energy efficiency measures, and are able to be created for projects within large industrial sites down, all the way down to residential properties.

Federal Renewable Energy Target (RET)

Large-Scale Generation Certificates (LGCs) are created to quantify renewable energy that has been generated through solar, wind, hydro, and biomass projects. This is done under the Renewable Energy Target, known as the RET.

Each LGC represents one megawatt hour of renewable energy, and one LGC may be created for each MWh of actual energy generated by the project.

These LGCs act like a stock that can be traded to gain a financial benefit, or surrendered to claim the renewable energy benefit.

Federal Emissions Reduction Fund (ERF)

Australian Carbon Credit Units (ACCUs) are an Australian based carbon credit that can be created as a result of activities that avoid or remove greenhouse gas emissions.

Each ACCU is representative of one tonne of carbon dioxide having been removed, or avoided, by the eligible activity.

Peak Demand Reduction Scheme.

Peak Reduction Certificates (PRCs)

Australia’s Most Versatile ACP.

Ecovantage specialises in creating, trading, and supplying all energy certificates, including VEECs. We assist you in balancing the financial and environmental scales for each project. 

Ecovantage provides an end-to-end service, from site audits and project management, through to generation and monetisation of the created certificates. 

The treatment of certificates is based on the financial and carbon goals of each organisation. The options available are presented with their relevant outcomes on both fronts, to ensure your decision is an informed one. Ecovantage generates and trades certificates as an authorised provider through the Independent Pricing and Regulatory Tribunal (IPART).