Market Update | 1 March

• VEU holds information session on proposed door-knocking and telemarketing ban
• VEECs experienced a rise in the spot toward the weeks end
• PRCs rise in the spot, separating from the falling ESC market

VEU Public Information Session on Proposed Door-Knocking and Telemarketing Ban

The proposed door-knocking and telemarketing ban under the VEU has triggered a regulatory impact statement (RIS) consultation inviting commentary on the departments preferred ban options and why this position is held. The outcome of the consultation, regardless of the options, is scheduled to commence 1 May 2024. The suggestion from the RIS is the adoption of a phased ban:

All cold call telemarketing to prospective customers and additional telemarketing bans from 1 May 2024; and
a full ban on door-knocking from 1 August 2024.
This suggestion comes from the RIS amidst reports from the VEU that the number of complaints from telemarketing and doorknocking has significantly increased in the past 3 years with 1143 telemarketing complaints and 265 door-knocking complaints between 2020 and September 2023. The VEU code of conduct has has not decreased as much expected and feedback suggests that telemarketing and door-knocking pressure tactics and abuse are worsening and is a persistent nuisance.

VEEC Price Increase

Amongst the discussions following the ban announcement, DEECA acknowledged the proposed changes will likely increase the VEEC price by several dollars, as to if this change has yet to be seen in VEEC prices or was experienced in the price rallies seen late last year remains a point of debate amongst many market participants.

The department responded to queries surrounding the source of future VEEC creation following the ban. DEECAs modelling forecasts an uplift in both Activity 3 and Activity 6 creation in addition to the finalisation of an increased number of PBA M&V projects.