Certificate Services:
Weekly Market Update.

At Ecovantage, we consistently analyse market activity, creation metrics, policy changes, and consultation releases in conjunction with wider landscape activity.

Sign up below to receive Market Updates and spot prices delivered to your inbox every Friday.

Ecovantage Renewables GIF

Quick Nav

We make things easy for our clients, including navigating this page. Use these shortcuts to jump ahead.

Weekly Market Update | 7 June 2024

LGC: Continuing a strong 30-day negative trend, both the spot and forward vintages declined over the week showing elevated volatility. A decline in the spot price coming into the end of the financial year is routine within the market given the often higher LGC registration volumes. 

ACCU: This week saw another reduction in both the Generic and HIR spot ACCUs late in the week, decreasing by $0.85 and $0.15 respectively. Following a period where the two spot markets were trading on an even level the HIR ACCUs rose last week to a stable premium above generic. A total of 65K traded over the week over the Generic, HIR and Generic with no Avoided Deforestation spot markets. No forwards were placed in the week.

PRC: As PRC creation remains high alongside ESC creation due to the commercial hot water activity the spot price continues to experience high levels of volatility. The spot market opened the week at $1.85, peaked at $1.97, and closed on Friday at $1.90. The weekly creation was again elevated at 448K and is anticipated to remain high in the coming weeks leading up to the end of the financial year and the August 1st activity changes. The commercial hot water activity will see heat pumps under 425L no longer eligible to create PRCs after being the primary source of certificate supply for the market to date.

 

See below for pricing updates for each certificate.

VEEC:This week VEECs rose to an all-time high of $115.20 for the 2024 vintage, before softening marginally to $114.90 to close the week. The weekly creation was 105K, which while below the target average is in parody with recent volumes within the market. For the first time in a number of weeks, activity was experienced in the forwards with July through to September trading at a rate of $113.50. The market maintains a strong positive 30-day trend, potentially impacted by another step down in creation following the Telemarketing Ban on May 1st. Further impact to creation is anticipated after August 1st when the Doorknocking ban takes effect.

STC: The clearing house is in a surplus of 205K up from 50K last week. The spot market has been active with the surplus in effect, trading through both the spot market at $39.90 and the forwards out to the end of 2024.

ESC: This week the spot price declined below $19.00 following another week of high creation, settling to a low of $18.90. The creation in the past 7 days totals 175K, which is 192% above the required weekly average to reach the annual target. Year to date a total of 4.66 million ESCs have been created, leaving 110K to reach the 2024 target. High creation is both anticipated and routine leading up to the June 30 creation deadline though is inflated this year by a ‘last rush’ of Heat Pump Installations prior to the rule changes beginning June 26th. 

 

 

 

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

Receive weekly market updates and up-to-date spot prices delivered to your inbox every Friday.

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.

Don’t want to watch? Read the transcript here.

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

 

Speak with a Specialist