Commercial Lighting in Victoria and New South Wales

In a typical office, lighting usage contributes to around 38% of the electricity bill. That’s a big impact on any business's bottom line. By installing energy efficient lighting technologies, such as LED luminaires and control devices, businesses can both save money and reduce greenhouse gas emissions.

Since 2009, Green Energy Trading has helped reduce the cost of energy efficient lighting upgrades for thousands of businesses through the Victorian Energy Efficiency Target (VEET) and the New South Wales Energy Efficiency Scheme (ESS).

Combined, we have created more than 3 million energy efficiency certificates, and have one of the highest compliance ratings in the industry. We offer fast payments with competitive pricing, streamlined creation that integrates with your business, and timely market intelligence when you need it.

Benefits of working with Green Energy Trading

  • Fast Cash: 5 working-day payment for VEECs and 10 working-day payment for ESCs regardless of our audit status, frees up capital and gets your business moving.
  • Flexible trading models: Get the spot price on the day, lock-in forward pricing in advance, or have the VEECs/ESCs transferred back to your account – whichever model suits your business needs.
  • Streamlined creation: Our purpose built creation system and dedicated customer service reps will help you through every step of the creation process.

Green Energy Trading can help you navigate through complex compliance requirements by providing you with clear and concise information and first-class customer service.

Call Green Energy Trading on 1300 077 784 to discuss your next ESC or VEEC commercial lighting projects today.

What is an Energy Savings or Energy Efficiency Certificate?

An Energy Savings Certificate (ESC) or Victorian Energy Efficiency Certificate (VEEC) are tradable credits that represent Carbon Dioxide abatement from eligible energy saving activities. Changing old, inefficient lighting over to more efficient technologies saves electricity, and this is converted into Carbon Dioxide abatement credits under the state based programs. Each ESC or VEEC has a current market price that electricity retailers buy a quantity of certificates for, thus creating incentives for businesses in Victoria and NSW to reduce electricity consumption.


Are the certificates a Government Rebate?

No. While the VEET and ESS programs are legislated and administered by State Governments, the funding does not come from Government bodies. The schemes are known as market mechanisms, removing the need for tax payer funding, and putting a requirement on electricity retailers to fund energy reduction activities.


How does certificate creation with Green Energy Trading work?

Green Energy Trading can be engaged directly by Original Energy Savers / end consumers to facilitate the creation of Energy Efficiency Certificates from an eligible commercial lighting upgrade. More often we work with installers and solution providers who engage with end consumers and offer upfront discounts on the cost of the installation in return for claiming the Energy Efficiency Certificates through Green Energy Trading.

We make ESC and VEEC certificate creation easy with:

  • Purpose built certificate creation online system
  • Expert team who guide you through the compliance requirements
  • Easy to use document templates that can be adapted as needed

What is the Price for VEECs/ESCs?

ESC and VEECs are traded on separate markets, and each market price fluctuates almost daily. The current market price, called the Spot price, is advertised on a number of trader websites, such as Green Markets. The advertised spot pricing is the last traded price for a parcel of certificates sold on the open spot market.

Green Energy Trading uses current spot pricing to offer you the most competitive creation rates. We also offer:

  • Flexible trading models that suit your business needs
  • Fast, uninterrupted payments, regardless of our audit status
  • Transparent pricing structure that’s agreed upon at commencement of our relationship

With Green Energy Trading, you know what price you will receive for your certificates upfront, not later on when the certificates are finally traded. We also offer lock-in and forward options, to give your business even more certainty and mitigate price fluctuation risks.


What information does Green Energy Trading require?

Before the commencement of any commercial lighting upgrade, the solution provider will need to contact Green Energy Trading to discuss the project. We need to provide training and guidance as well as the mandatory documentation to allow any installation to proceed.

Crucially, in NSW, the installation will not be eligible for certificates unless the original energy saver has signed Green Energy Trading’s nomination form prior to the installation being complete. Without a signed Nomination Form, Green Energy Trading is unable to create ESCs.

Under both Victorian and NSW schemes there are other strict compliance requirements to follow, and missing crucial information or installing incorrect products may result in the installation being ineligible to create certificates.


Certificate creation deadlines

Under both the Victorian and NSW schemes, energy efficiency certificates must be created before June 30 of the year following the year of installation. For instance:

  • If the installation takes place on December 30, 2015, you have until June 30, 2016 (6 months in total) to claim your certificates.
  • If the installation takes place on January 1, 2016, you have until June 30, 2017 (18 months in total) to claim your certificates).

It is important to allow enough time for the documentation to be validated and processed before the expiry date.


Call Green Energy Trading on 1300 077 784 to discuss your next ESC or VEEC commercial lighting projects today.

Info

  • GST Options for Commercial Lighting Installations PDF | 0.29 MB

    GST Options for Commercial Lighting Installations

  • Comparison of Commercial Lighting Certificate Markets PDF | 0.37 MB

    This information sheet aims to provide clarity on the NSW Energy Saving Scheme and the Victorian Energy Efficiency Target which both provide financial incentive for owners or tenants of commercial premises to retrofit their premises to include energy efficient lighting.

  • VEEC 34 - Information Sheet PDF | 0.04 MB

    This information sheet describes how to access the financial incentives available for energy efficient commercial lighting upgrades in Victoria. These incentives help reduce costs to the consumer and enables installers to improve the cost competitiveness of their products and services.