LGC: After an extended period of decline, the past 5 days saw some signs of price recovery with some late-week action having spot closing the week at $22.25 – up from $21.00 a week earlier. Similar gains were reflected in the CAL25 market, closing a step higher at $22.75.

The news wasn’t all positive across vintages with CAL26s and CAL27s losing ground to close at $19.75 and $14.00, respectively.

VEEC: The VEEC market’s downwards trend continued again this week with losses experienced in both the spot and forwards markets. After opening the week at $105.10, traders struggled to find buyers with just a single 13k trade transacting on Wednesday at $105.00 before another 5k parcel brought about a sharp decline to close the week at $103.00.

Looking ahead, the forwards market also lost ground with a series of trades indicating a strong downwards curve through the remainder of 2025 and into 2026. Early in the week, Monday saw a 25k parcel for December 2026 agreed at $99.00, before a smaller 10k transacted at $95.00. This pulled bids down on 2025 volumes later in the week with a June 2025 parcel changing hands at $102.25.

With March 2025 volumes exceeding 670,000 VEECs, representing a 100% increase on the same time last year, and program target reductions expected to be confirmed in the coming weeks, expectations are that the market will continue to adjust downwards.

ESC: As we enter the final quarter for the financial year, the number of ESCs registered during the past week leapt back up to more than 336,000, more than double the three previous weeks.

This strong creation liquidity failed to correspond in trade volumes during the first half of the week. The end of the week saw increased volumes change hands, notably on the spot market, coinciding with a 7% increase in the spot price – closing at $15.75.

In positive news, May and June 2025 forwards also showed some cause for further optimism – closing the week a step higher at $16.10.

PRC: The PRC market saw a sharp fall in the spot price mid-week – with a large parcel of almost 1 million certificates exchanged at $2.57, down $0.11 on the back of the news regarding the federal government’s home battery announcement.

Spot traded down further on Wednesday in 250k $2.55, where it remained through the rest of the week.

Creation was also strong this week with over 750,000 PRCs registered.

ACCU: ACCUs remained quiet throughout the week after a lively fortnight with minimal trading seeing the Generics spot initially nudging higher to $34.35 before losing ground to close the week at $34.00.

There were no trades reported across the week for any method-specific ACCUs.

STC: With minimal trading across the week, the spot price remained steady at $39.90.

Some larger strips of 50K and 100K saw downward pressure on some of the forwards for the latter part of 2025 – with pricing drifting to $39.83.

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.

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.

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.

Peak Demand Reduction Scheme.

Peak Reduction Certificates (PRCs)

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.

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).