Market Update June 30
Ecovantage
At Ecovantage we help Australian homes and businesses use energy efficiently, produce clean energy, and move towards car
VEU Non-compliant Water Heater Installation Statement
Statement of action taken against businesses following allegedly non-compliant water heater installations released on 29/06
Yesterday the Essential Services Commission released a statement following an investigation that uncovered evidence of poor quality of heat pump water heater installations under the program. These installations were flagged as a risk to consumer safety, including instances where hot water pipes were not acceptably thermally insulated and water tanks were not appropriately secured.?
Commissioner Sitesh Bhojani stated "I have zero tolerance for non-compliant, unethical, unsafe, fraudulent or misleading behaviour in the VEU program. Heat pump water heater products that have not been properly installed are not compliant with the program rules and are ineligible for the creation of Victorian energy efficiency certificates."
The commission has restricted, placed conditions on, and warned several installation businesses to lift the quality of installations. The commission has stated they will continue to closely monitor certificates created for the installation of heat pump water heaters under the program and urges all businesses to ensure compliance standards up upheld within the VEU program rule.
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VEU Fee Increases Released
Following consultation two months ago, the VEU has released an updated fee schedule effective 01 July
The VEU has issued an updated fee schedule, where several accreditation, submission, and registration fees have been increased effective from the 1st of July. Where a $1.00 registration fee has historically been in place, a $2.33 creation application fee will come into effect from the 1st of November.?
Further information and the fee schedules can be found through the following link:?
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Framework for Capacity Investment Scheme to Power NSW Released
In an effort to eliminate the energy shortfalls predicted by AEMO in 2028-29, the Federal and NSW governments have released Stage One of the Capacity Investment Scheme (CIS). Should the targets be met, the CIS would increase New South Wales' firmed capacity by over 100% to reach one gigawatt.?
At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Please reach out to us via our website https://www.ecovantage.com.au or on 1300 721 335 if you have any general or project-specific questions.