VEEC: Continuing a strong 30-day positive trend the VEEC spot market rose again, peaking at $108.00. The creation level last week was 79k, which remains below target. While the VEU’s proposed vintage rule removal may lend to an increase in supply ahead of the target, in the short term low creation levels have still placed a firm upward pressure on the price.

STC:STCs saw limited movement this week with the clearing house remaining in deficit. Currently the deficit is 2.7 million.

ESC: In a significant week for ESC creation, 701k was created which is far above recent levels. Of this, 428k was registered through the PIAM&V method, 230k through IHEAB activities, 33k through commercial lighting, and a minor 6k through HEER activities.

The spot market opened at $15.50 before sliding to $15.10 on Tuesday as buying contracted. The end of the week was quiet with no premium changes.

LGC: In a disastrous week for LGCs and clean energy project revenue, an estimated half a billion dollars of LGC value was wiped from current and forward certificate values. The week saw the spot price trade down in rapid succession on Thursday causing the spot to reach a low not seen in over 9 years. A total of 2.11 million LGCs were traded across the spot and forward vintages, with price drops between $6.75-10.25 occurring in the 2024-2027 vintages. This elevated the average weekly volatility to 5.96% in the curve and 4.37% in the spot. The market has speculated that a combination of a high capacity in project approvals, coupled with the uncertain introduction of the REGO program led to a high number of sellers entering the market concurrently in a frenzy of sell-offs. Today the price has begun to correct, with the spot trading already up 20% to $30.00 from its low of $25.00.

ACCU: The ACCU market had high liquidity across the generic, project specific and additional co-benefit market segments. 1.53 million certificates traded with all project-specific and co-benefit projects trading up in both the spot and near-term forwards. The generic spot declined over the week and the spot excluding avoided deforestation (AD) attracted a premium of $0.9 above the generic spot.

PRC: With mild volatility compared to previous weeks, the PRC spot traded down from $2.48 to $2.42, with a temporary midday hike to $2.50 not represented on the graph below. A total of 69k PRCs were registered. In the last 30 days the spot has remained above $2.00 as the weekly creation dropped following the rule change disallowing PRCs to be created for heat pumps below 425L.

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).