Our Victorian Energy Upgrades (VEU) performance reports detail the regulatory and administrative work undertaken as part of the program.
Victorian Energy Upgrades performance reports
Overview
The Essential Services Commission releases annual performance reporting about our work as regulator and administrator of the Victorian Energy Upgrades (VEU) program, to ensure we meet our statutory obligations.
For the 2023 calendar year, our annual VEU performance reporting has been incorporated as an appendix in our 2023–24 annual report. You can find the annual report on our website here.
Other information that has previously been included in annual performance reporting is available online and is updated regularly.
A summary of key VEU program outcomes in 2023 and links to further information and data about the program are below.
Key VEU program outcomes in 2023
829,000+ upgrades delivered across homes and businesses
829,161 energy efficiency upgrades were delivered across 529,222 Victorian homes and businesses, a 7 per cent increase in residential upgrades compared to 2022.
4.7 million tonnes of expected greenhouse gas emissions savings
Upgrades delivered in 2023 represented around 4.7 million tonnes of greenhouse gas emissions (CO2e) savings. This brought the total expected emissions savings from the program to over 83 million tonnes at the end of 2023.
Actions taken to improve program integrity and protect consumers
Penalties paid for failing to meet energy efficiency liabilities
In 2023, the commission issued shortfall penalties to five energy retailers for allegedly failing to meet energy efficiency liabilities for the 2022 compliance year, with retailers paying a combined $1 million in penalties.
Reforms to lift accreditation standards implemented
The commission made changes to the accreditation framework starting on 1 July 2023. Now, accredited individuals must pass both a fit and proper person test and a competent and capable test, and must renew their accreditation every year.
In 2023, the commission acted to protect the program's integrity by refusing two accreditation applications. One of these refusals was under the new accreditation rules. Under these rules, three additional businesses also had conditions placed on their accreditation in 2023.
855,000+ energy efficiency certificates surrendered, withdrawn or refused
In 2023, 4,338 certificates created by accredited providers for energy efficient upgrades were surrendered after registration either due to acknowledged non-compliance or because of an error. This represents over $340,000* in certificate value.
18,667 certificates (valued at over $1.4 million*) were refused registration on the basis of ineligibility or non-compliance. 832,224 certificates were withdrawn by accredited persons before registration, due to error or non-eligibility. This includes over 480,000 created in error by a single accredited person.
*Certificate value on this page is based on the average certificate trading price in 2023 of $79.
38 investigations and nearly 38,000 requests for further information
We commenced 38 investigations into alleged misconduct by accredited providers and made 37,711 requests for further information on energy efficient upgrades under the program to monitor compliance.
One business suspended from operating in the program
One business was suspended from operating as an accredited person in the program for 20 business days.
Links to other data and reporting
Access our dynamic VEU data dashboard which provides performance data for the program since it commenced in 2009, with data updated weekly.
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The department publishes information in relation to the Victorian Energy Efficiency Certificate (VEEC) market on a monthly basis with a quarterly publication of information on the pipeline of new and revised activities for the VEU program.
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