Our Victorian Energy Upgrades (VEU) reports detail the regulatory and administrative work undertaken as part of the VEU program.
Victorian Energy Upgrades reporting
Overview
The Essential Services Commission releases data about our work as regulator and administrator of the Victorian Energy Upgrades (VEU) program, to ensure we meet our statutory obligations.
Our annual reporting for the 2024 calendar year is included as an appendix in our Annual Report 2024–25.
A summary of key VEU program outcomes in 2025 is below.
You can access VEU reporting for previous years in the ‘Previous VEU reporting’ tab at the top of this page.
Key VEU program outcomes in 2025
New VEU Registry system launched
On 3 June 2025 we launched a new VEU Registry system. The new system replaced a 15-year-old, legacy platform and delivers a more secure, stable and expandable registry designed to meet the evolving needs of the VEU program.
Reducing emissions and energy costs in Victoria
The VEU program generated over 6.9 million Victorian energy efficiency certificates (VEECs) in 2025.
Over 200,000 energy efficiency upgrades were delivered, with over 180,000 upgrades in Victorian households and 21,000 in businesses. This was fewer upgrades compared to 2024, however each upgrade generated a higher average number of VEECs.
New VEU commercial and industrial solar PV system activity
The new commercial and industrial solar photovoltaic (PV) system was added to the VEU program. This new activity will cut the cost of installing solar for commercial and industrial businesses, and community organisations.
Actions taken to improve program integrity and protect consumers
Penalties paid for failing to meet energy efficiency liabilities
Victorian energy retailers surrendered over 6.5 million VEECs to meet 2024 energy efficiency obligations. The certificates were valued at over $540 million based on the VEEC price at the time.
One retailer didn’t meet its 2024 liability with a certificate shortfall of 38,225 and paid $3.4 million in penalties.
Almost 150,000 energy efficiency certificates ordered to be surrendered or refused
96,599 certificates created by accredited businesses for energy efficient upgrades were ordered to be surrendered after registration as a result of enforcement action. This represents over $8.6 million* in certificate value.
51,781 certificates (valued at over $4.6 million*) were refused registration as a result of enforcement action.
*Certificate value is based on the average certificate spot trading price in 2025 of $89.25
30 enforcement outcomes against non-compliant accredited persons and scheme participants
In 2025 we investigated and acted against non-compliance in the program with the following outcomes:
- four cancellations of accreditation
- four immediate suspensions of accreditation
- three suspensions of accreditation
- eleven formal warnings
- five restrictions on accreditation
- three requirements to undertake independent compliance audits
- two penalty notices totalling $92,308, including the first ever against a scheme participant.
Links to other data and reporting
Access an interactive dashboard with historical performance data for the program since it commenced in 2009 until mid-2025.
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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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