Certificate Services:
Weekly Market Update.

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Weekly Market Update | 23 February 2024

VEEC: The VEEC market began the week with a total of 18k trading in the spot at a rate of $91.50, a 2% dip in comparison to last Friday’s closing price of $93.50. Following this softening, and an absence of trade activity for Tuesday, the spot price experienced a small hike on Wednesday prior to dropping to $90.50 on Thursday, before closing the market with a 5K Trade on Friday at a week low of $90.25.

STC:The STC spot market are trading at a slower pace this week with one 10K trade going through towards the end of the week at $39.60. The announcement of the STP this week may have contributed to a 0.6% increase from last week’s closing spot at $39.35, potentially attracting speculative buyers into the market with a higher demand required in 2024.

ESC:A quiet start for the ESC spot market this week, though a total volume of 100k traded on Wednesday at $22.40, a 0.4% decline from Friday’s closing price. This was followed by a further 1.7% drop to $22.00 in two parcels on Thursday and Friday respectively. The market continues to experience a large oversupply, with an ESC creation decrease for high-volume activities due to come into effect on the 19th of June.

LGC: The LGC spot market this week has a higher trading volume compared to last weeks. Market opened at $44.00 with a 45K spot which then were followed by an 81K parcel on Wednesday at $43.50, 61K Spot on Thursday at $43.25 before closing at $42.75 with a 5K spot on Friday. 

ACCU: Activity in the ACCU market saw moderate trade volumes this week, with decreased total activity when compared to the previous 7 days. The primary volume traded on the spot market between Generic and HIR units. Savanna Burning spot units traded down by $0.35 in a 15K parcel on Thursday, the first trade for the market in recent times.

PRC: PRCs experienced a higher trading volume this week compared to the last. The first spot trade for the week transacted on Tuesday at $1.05, this was followed by a total volume of 595K on the Wednesday, with the peak rate seen at $1.13. This is somewhat of a recovery after the market hit a historical low spot price of $1.00 in the past fortnight.

See below for pricing updates for each certificate.

As Australia’s largest 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.

Victorian Energy Efficiency Certificates (VEECs)

VEEC Market Update Spot Price Graphs VEEC

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.

Learn More About VEECs

Federal Renewable Energy Target.

Small-Scale Technology Certificates (STCs)

STC Market Update Spot Price Graphs STC

Federal Renewable Energy Target (RET)

Small-scale Technology Certificates (STCs) are a tradeable certificate in Australia’s renewable energy market. They are part of the federal government’s Renewable Energy Target (RET) scheme, which aims to promote the uptake of renewable energy sources.

1 STC = 1 MWh of calculated electricity either generated by a renewable energy source or displaced by the installed system.

The quantity of STCs is calculated based on the location of the system, the electricity generated or  displaced, and the years left in the scheme until it ends in 2030.

Learn More About STCs

NSW Energy Savings Scheme.

Energy Savings Certificates (ESCs).

ESC Market Update Spot Price Graphs ESC

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.

Learn More About ESCs

Federal Renewable Energy Target.

Large-Scale Generation Certificates (LGCs)

LGC Market Update Spot Price Graphs LGC

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.

Learn More About LGCs

Federal Emissions Reduction Fund.

Australian Carbon Credit Units (ACCUs)

ACCU Market Update Spot Price Graphs ACCU

EE (Energy Efficiency) | HIR (Human Induced Regeneration) | NT (Native Title) | SB (Savanna Burning) | CB (Co-Benefits) | ICB (Indigenous Co-Benefits)

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.

Learn More About ACCUs

Peak Demand Reduction Scheme.

Peak Reduction Certificates (PRCs)

PRC Market Update Spot Price Graphs PRC

Peak Demand Reduction Scheme (PDRS)

Peak Reduction Certificates (PRCs) are tradable certificates under the NSW Government’s Peak Demand Reduction Scheme (PDRS).

1 PRC represents 0.1 kilowatts of peak demand reduction capacity averaged over one hour during the peak summer period.

This aims to encourage peak energy use reduction within peak demand times, to reduce pressure on the electricity grid and in turn reduce energy prices.

Learn More About PRCs

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What Organisations do with Certificates.

Once generated through an eligible energy saving project, certificates are sold or traded to liable entities, such as energy retailers.

Sold certificates are generally used to reduce the upfront investment cost of an energy efficiency project.

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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).

Certificates Features.

Australian Certificate Attributes and Recognition

 

Certificate Classification Representative Of Attribute Recognised by External Programs? Purpose
ACCU Carbon Credit 1 Tonne of CO2-e Carbon Recognise and Measure Carbon Abatement
LGC Renewable Energy Certificate 1 MWh of Renewable Generation Renewable Energy Recognise and Measure Renewable Generation
STC White Certificate 1 Calculated MWh of Renewable Generation None Create a Financial Incentive for Small-Scale Renewable Generation
VEEC White Certificate 1 Calculated Tonne of CO2-e None Create a Financial Incentive for Energy Efficiency Upgrades
ESC White Certificate 1 Nominal MWh None Create a Financial Incentive for Energy Efficiency Upgrades
PRC White Certificate 0.1kW of Peak Demand Reduced None Create a Financial Incentive for Peak Demand Reduction
REPS White Certificate 1 Calculated GJ None Create a Financial Incentive for Energy Efficiency Upgrades

White certificates = STCs, ESCs, VEECs & REPs

Program ACCUs LGCs White Certificates
RE100
Climate Active

SBTi (Net Zero)

GreenPower
NABERS
Green Building Council of Australia
Greenhouse Gas Protocol

 

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