Victorian renewable energy certificates (VRECs)

VRECs are a form of currency initiated by the Victorian Renewable Energy Act 2006 (the Act). VRECs are created by registered persons, validated by the Commission, traded between parties, and eventually surrendered to the Commission to demonstrate liability compliance against the Act.

A VREC must be registered by the Commission before they are considered valid. The Commission maintains a register of VRECs which is published on this website. A certificate is only valid as a VREC if listed in this register.

A VREC must be created by the end of the year after the year in which the generation of electricity for the VREC occurred. For example, a VREC may be created for 1MWh of eligible electricity generated in February 2008 up to 31 December 2009. VRECs remain valid until surrendered to meet a liability and have no expiry date.

» Persons eligible to create VRECs 

» VREC code 

» VREC prices

» Creating VRECs

» Registering VRECs

» Transferring VRECs

» Surrendering VRECs - relevant entities

» Surrendering VRECs - voluntary