Victorian Energy Upgrade (VEU) program reforms are improving program outcomes and better protecting Victorian consumers.
Reforms to the VEU program
The Victorian Energy Efficiency Target Amendment Act 2022 will introduce new requirements for accredited providers and scheme participants in the Victorian Energy Upgrades (VEU) program to improve compliance and enforcement. This will ensure energy bill savings, energy efficiency, and emissions reductions are delivered.
- further strengthen consumer protections by introducing penalties for third parties participating in the program (such as sub-contracted lead generators or installers)
- ensure providers accredited under the program are appropriately qualified
- provide us with new compliance tools
- ensure greater market transparency, allowing us to share program information with other Victorian Government energy programs
- extend the VEU program by one year, from 2029 to 2030, to bring it in line with the Victorian Government’s Climate Change target timelines
These improvements build on our existing compliance and enforcement activities and provide more tools and powers to protect Victorians.
The legislation’s objectives are to:
- increase oversight of program participants, improve monitoring and compliance, and provide a wider and more flexible range of enforcement tools
- ensure the program has a robust compliance framework that enables us to effectively administer the scheme, monitor compliance and pursue enforcement where necessary
- ensure program benefits, including $1.3 billion in energy bill savings and 28 million tonnes of greenhouse gas emissions savings, are achieved.