Plan ahead and reassess VEEC returns early for large upgrades

In Victoria, we truly see the impact of strong investment in renewable energy technology.

Why is this happening?

Our effort to decarbonise the energy system is delivering meaningful outcomes. As such, the Victorian Energy Upgrades (VEU) program recognises our cleaner, greener energy generation in Victoria and is reducing the emissions factor. The reduction is set to start on 1 February 2023 and will see the factor drop from 0.9546 to 0.8142.

With the emissions reduction factor about to change, we want to ensure you make the most informed decisions for your projects.

What THIS CHANGE MEANS FOR YOU

The emissions factor reduction will affect projects completed after 1 February 2023. These projects will generate fewer VEECs than projects completed and commissioned on or before 31 January 2023.

Reassessing the change for large upgrades

We understand that you may be involved in significant upgrades that can take several months to plan and days to complete. Your clients may also be shut down through Christmas, New Year and into January, impacting your planned timelines and delaying your completion date. Therefore, we suggest you plan ahead and reassess project VEEC returns early.

Don't forget to look ahead! If your completion date is scheduled on or after 1 February 2023, you must factor in a reduced VEEC return into your project budget.

Our passionate team of engineers are here to help you navigate these changes for your projects. Book a meeting today to prepare yourself before the summer break.

1300 077 784