VEU project-based activity regulations changes commencing

26 August 2025

The Department of Energy, Environment and Climate Action has made amendments to the Victorian Energy Efficiency Target (PBA) Regulations 2017 (PBA regulations) for the Victorian Energy Upgrades (VEU) program, which take effect today. The amendments support and extend the recent changes to the PBA Specifications to streamline and simplify the methods available, and encourage the growth and uptake of PBA.

Key changes include:

• changes to reporting requirements for the benchmark rating projects
• reporting pathway enabled for specified measurement method projects
• the introduction of an advanced measurement and verification (M&V) activity
• amendments to PBA accreditation streams and requirements
• clarification of the process for transferring ownership of a project to another accredited person (AP)
• changes to certifications required to become an approved measurement and verification professional (AM&VP).

Changes to PBA methods

The previous PBA regulations provided for two PBA activities: benchmark rating and M&V. The amended PBA regulations add two new methods and provide streamlining improvements to the existing two. There will now be four activities under PBA:

1. Benchmark rating
2. Standard M&V (previously known as “M&V”)
3. Specified measurement method (SMM)
4. Advanced M&V

Benchmark rating method

Project plan approval is no longer required under the new PBA regulations. This means benchmark rating projects only require scoping plan and impact report approval to create VEECs.

Specified measurement method

The M&V Specifications update released on 20 June 2025 introduced the specified measurement method (SMM). Project plan approval is not required by the SMM reporting pathway enabled by the new PBA regulations. This means SMM projects only require scoping plan and impact report approval to create VEECs.

Advanced measurement and verification method

The amended PBA regulations introduce the advanced M&V method. Advanced M&V projects do not require project plan approval and otherwise follow the same methodology as standard M&V. This means advanced M&V projects only require scoping plan and impact report approval to create VEECs.

Changes to PBA accreditations streams

Existing PBA accreditation

APs with existing PBA accreditation have previously been able to undertake benchmark rating and M&V activities. With the amended PBA regulations taking effect, these APs will become accredited for benchmark rating and standard M&V and SMM activities, with no action required.

Applying for PBA accreditation for the first time

APs applying for PBA accreditation for the first time will need to select whether they wish to become accredited for benchmark rating, standard M&V, SMM or any combination thereof.

Advanced M&V accreditation

APs must have standard M&V (previously M&V) accreditation to apply for advanced M&V and must meet certain prerequisite eligibility criteria. For APs that are currently accredited for PBA, we will only be accepting scoping plans if relevant prerequisite eligibility criteria are met. Going forward, you will need to nominate at reaccreditation if you wish to be considered for advanced M&V. Visit the Accredited Persons page for more information

Changes to transferring project ownership

Energy consumers (e.g. site owners or tenants) can apply to transfer ownership of a project from one AP to another by submitting a written request to the commission, along with consent from the new AP and evidence that the incumbent AP has been given sufficient notice of intent to transfer and the opportunity to respond.

Changes to AM&VP certification requirements

Performance Measurement and Verification Analyst (PMVA) certification by the Energy Efficiency Council is introduced as an additional prerequisite certification option for becoming an AM&VP with the commission.

Updates to PBA guides and forms

We have updated our PBA guides, forms and supporting documents to reflect the changes outlined above, which are available on the Project-based activities webpage.

Updates to accreditation guides and forms

We have updated our accreditation guides and forms to reflect the changes outlined above, which are available on the How to become a VEU accredited person webpage.

Where to get help

If you have any questions about these changes, please contact VEU support on (03) 9032 1310 or veu@esc.vic.gov.au