We administer a range of audit and compliance functions under the Victorian Energy Upgrades (VEU) program, using a risk-based framework approach.
Our VEU audit and compliance functions
We regulate participation in the Victorian Energy Upgrades program and promote compliance with obligations through monitoring, validation and audit activities and enforcement actions.
We carry apply an integrated risk-based framework to our audit and compliance functions, and regularly engage with stakeholders to discuss improvements. In doing so, we aim to promote active compliance cultures by all scheme participants.
We monitor compliance with the:
- the Victorian Energy Efficiency Target Act 2007
- the Victorian Energy Efficiency Target Regulations 2018
- the Victorian Energy Efficiency Target (Project-Based Activities) Regulations 2017
- the Victorian Energy Efficiency Target Guidelines
- guidance documents (which provide information to scheme participants in respect of our administration of the VEU program)
All energy retailers with a liability under the program and accredited persons are required to:
- know their regulatory obligations under the program and show that they are compliant with those regulatory obligations
- self-monitor and report breaches of regulatory obligations
- respond to and rectify breaches, including handling of customer complaints.
Compliance and enforcement policy
Our VEU compliance and enforcement policy:
- ensures that the greenhouse gas abatement claimed by accredited persons is achieved
- ensures scheme participants compete on a level playing field
- reduces risk to scheme participants and consumers
- protects the integrity of the scheme.
We approved this policy on 1 November 2017.
The policy promotes compliance with the VEET act and VEET Regulations by:
- setting out how we will achieve compliance and carry out enforcement
- providing scheme participants (accredited persons and relevant entities) with a better understanding of our compliance and enforcement processes
- assisting scheme participants to understand what we expect from them when participating in the VEET scheme
- encouraging an active compliance culture
- assisting scheme participants to comply with new activities such as project based activities, insulation activities and non-building based lighting.