VEEC: VEECs were quiet to start the year with the only action seeing a pair of spot trades marginally increasing Monday’s opening of $110.75 to $111.75.

With the VEU’s consultation on 2026-2027 program targets set to close on 16 January, program participants are encouraged to submit feedback before the deadline. While offering a range of options, the VEU’s preferred option would see program targets initially reduce from 7.1m certificates in 2025 to 5m in 2026 and 6m in 2027.

This, along with the upcoming removal of the ‘vintage rule’ which is designed to afford liable entities greater flexibility in meeting their surrender targets, is aimed to address the effects of under-creation volumes which have resulted in a VEEC price which has reached and remained at historical highs this financial year.

STC: STCs were quiet on the week, as the the clearing house remained in deficit.

ESC: The ESC market saw some minor fluctuation in the spot before finishing the week a step lower at $14.45, after starting the week at $14.50.

There were no reported trades in the forwards market with traders hoping 2025 will bring signs of market recovery after a challenging 12 months, which saw creation volumes result in historical pricing lows.

LGC: LGCs started the year with a flurry of activity early in the week – Tuesday was the most active with over 750,000 LGCs changing hands across vintages. This pushed up prices across vintages with premiums of $1.00-$1.75 applied to CAL24, CAL25, CAL 26 and CAL27.

There was, however, a slight correction on Thursday which largely brought about a slight drop with most vintages concluding the week a step higher than where they started.

ACCU: The Generic ACCUs market also saw some mild volatility with Wednesday seeing a $1.15 drop in both the spot and spot (No AD) markets before the latter rallied late on Thursday to finish the week a step above at $36.50.

In the forwards market, Wednesday saw a pair of (No AD) parcels trade well below last with a 35k trade for February 2025 going through at $35.80 and a 25k for May 2025 at $37.20 – a drop of $4.70 and $3.80, respectively.

PRC: PRCs largely remained steady with spot easing off from Monday’s opening of $2.50 to close at $2.46. This minor dip resulted from strong liquidity with Wednesday seeing over 550k traded.

This softening was mirrored in the forwards market with traders reaching agreement at $2.50 for February 2025 through to June 2025, as ACPs look to secure pricing for the recently-introduced BESS1 and BESS2 activities. With just over 200k PRCs created under the two activities since 1 December 2024, creation volumes are yet to have a material impact on the market.

See below for pricing updates for each certificate.

As Australia’s most versitile Accredited Certificate Provider (ACP), Ecovantage maintains strong market analytics to keep our partners and clients on top of the certificate market. Below is the current spot price tracking and price charts across the federal and state energy certificates.

Pricing and summary is accurate as of the time of publishing. Pricing and charts are automatically generated daily.
Ecovantage is not liable for any errors or changes in the figures provided.

Victorian Energy Upgrades Program (VEU)

Victorian Energy Efficiency Certificates (VEECs) are credits issued under the Victorian Energy Energy Efficiency Target (VEET) scheme for eligible energy upgrades, from large commercial and industrial sites down to individual homes. The quantity of VEECs issued is based on the amount of calculated greenhouse gas emissions avoided through the upgrade.

NSW Energy Savings Scheme (ESS)

Energy Savings Certificates (ESCs) are a tradable certificate issued for electricity, gas, and other energy savings that result from a technology upgrade or modification.

ESCs are created under the New South Wales Government’s Energy Savings Scheme (ESS) and are available only to projects within the state. ESCs are used as a market-based mechanism to increase the implementation of energy efficiency measures, and are able to be created for projects within large industrial sites down, all the way down to residential properties.

Federal Renewable Energy Target (RET)

Large-Scale Generation Certificates (LGCs) are created to quantify renewable energy that has been generated through solar, wind, hydro, and biomass projects. This is done under the Renewable Energy Target, known as the RET.

Each LGC represents one megawatt hour of renewable energy, and one LGC may be created for each MWh of actual energy generated by the project.

These LGCs act like a stock that can be traded to gain a financial benefit, or surrendered to claim the renewable energy benefit.

Federal Emissions Reduction Fund (ERF)

Australian Carbon Credit Units (ACCUs) are an Australian based carbon credit that can be created as a result of activities that avoid or remove greenhouse gas emissions.

Each ACCU is representative of one tonne of carbon dioxide having been removed, or avoided, by the eligible activity.

Peak Demand Reduction Scheme.

Peak Reduction Certificates (PRCs)

Australia’s Most Versatile ACP.

Ecovantage specialises in creating, trading, and supplying all energy certificates, including VEECs. We assist you in balancing the financial and environmental scales for each project. 

Ecovantage provides an end-to-end service, from site audits and project management, through to generation and monetisation of the created certificates. 

The treatment of certificates is based on the financial and carbon goals of each organisation. The options available are presented with their relevant outcomes on both fronts, to ensure your decision is an informed one. Ecovantage generates and trades certificates as an authorised provider through the Independent Pricing and Regulatory Tribunal (IPART).