Reforms to the VEU program

Victorian Energy Upgrade (VEU) program reforms are improving program outcomes and better protecting Victorian consumers.

Victorian Energy Efficiency Target Amendment Act 2022

Reforms introduced by the Victorian Energy Efficiency Target Amendment Act 2022, took effect on 1 July 2023 and 1 November 2023.

These changes included:

Ensuring providers accredited under the program are appropriately qualified by being required to demonstrate they are a fit and proper and competent and capable person.
Introduction of new offences and enforcement tools to provide for more effective regulation.
Introduction of new audit tools and a requirement for accredited persons to undertake an independent audit at least once every two years.
Extension of the VEU program by one year, from 2029 to 2030, to bring it in line with the Victorian Government’s Climate Change target timelines.

Amendments include:

extending the VEU program from 2030 to 2045
providing expanded and new compliance and enforcement powers for the commission to oversee the program, including
- the issuing or improvement notices and prohibition notices
- making further provisions in relation to civil penalty requirements
removal of certain certificate restrictions in relation to the surrender of Victorian energy efficiency certificates
allowing activities to be prescribed for activities required to be undertaken by other laws or to be undertaken only in respect of vulnerable and low-income consumers
enabling related bodies corporate to hold VEET scheme registry accounts.