• • NSW regulator to implement ESS door knocking ban from August 2025
  • Heat pump feasibility study grants of up to $30,000 available
  • VEECs hit another wave of volatility

Door knocking banned under the ESS from August 2025.

Door-to-door sales campaigns to promote and sell energy-efficient and demand reduction upgrades under the Energy Savings Scheme (ESS) will be banned from next month.

As part of a recent announcement to improve consumer protections under the ESS, door knocking will no longer be permitted – this extends to activities under the Peak Demand Reduction Scheme (PDRS).

In addition to the ban, a 5-year minimum product warranty is set to be introduced under the new rule – both measures aligning with recent measures introduced by the NSW regulator’s Victorian counterpart.

For further details and to read the announcement, please click here.

$30,000 NSW grant for heat pump electrification feasibility studies.

News this week saw the announcement of funding aimed to lower the up-front capital expenditure required to perform a feasibility assessment of replacing gas boilers and heaters with heat pumps.

The NSW government’s Heat Pump Feasibility Grant provides funding of:

• • Up to $5,000 to cover up to 75% of the cost to identify if a heat pump is suitable for your business site
  • Up to $25,000 (covering up to 75% of costs) to develop a detailed heat pump feasibility study.

Weekly Market Update | 11 – 18 July 2025

Large-Scale Generation Certificates (LGCs)

The LGC market failed to rebound after last week’s decline as mixed results saw vintages closing either a step lower or a step higher.

Thin liquidity early in the week brought both Spot and CAL25 up a level on Tuesday at $14.50 and $14.75, respectively.

Support followed through moderate liquidity on Wednesday and Thursday with vintages largely trading sideways, before moving down slightly, where they remained for the remainder of the week.

Victorian Energy Efficiency Certificates (VEECs)

VEECs were again volatile as the market continued to adjust to the regulator’s announcement late last week regarding a delay to the introduction of changes to the Commercial Hot Water activity.

Markets opened down on Monday, immediately shedding $2.00 in the Spot to close the day at $95.00. This was where it appeared destined to close before late week trading brought it back up to the $97.00 level.

The forwards market saw even greater losses, punctuated by a short forward for July 2025 trading down at $94.75 – $11.25 lower than the last parcel that traded just 5 days prior.

There was little support for forwards through the remainder of the week as traders anticipate how next week’s introduction changes to one of the few remaining viable avenues for certificate creation plays out.

Energy Saving Certificates (ESCs)

A mixed week for ESCs saw spot trade up and down across low liquidity to close the week at $22.00, marginally higher than Monday’s opening.

There were no reported forwards trades with the anticipation of the release of the new Rule continuing to build.

Weekly creation volumes were low again, bringing monthly creation just under 96,000 ESCs, representing a 300% decrease on creation volumes across the same period 12 months ago.

Peak Reduction Certificates (PRCs)

There was little significant movement this week, as PRCs held steady across moderate liquidity with just over 1 million certificates changing hands.

Spot closed at $2.95, the same level as Monday’s opening, after losing some ground early in the week.

The forwards market was quiet with just two reported trades – both mirroring spot at $2.95, one for July 2025 in 200k at $2.95 and the other August 2025 in 100k.

Creation remained steady at just over 425,000 certificates, bringing the monthly total to 1,175,000.

With the 2025 PRC vintage submission deadline approaching, creation volume is anticipated to hold firm as installers look to finalise all compliance paperwork before the certificates expire. This is despite the certificate’s primary activity’s, BESS1, suspension taking effect at the start of this month, leaving few viable avenues for industry to meet program targets.

Australian Carbon Credit Units (ACCUs)

ACCUs were quiet this week with few reported trades to speak of.

Tuesday saw the lion’s share of the action with the Generics seeing Spot and Spot (No AD) both rebounding after falling on Monday to recover at $34.40 and $34.45, respectively.

Further gains were seen on Thursday, pushing both up to $34.60. Notably, No AD traded down to close the week a step lower at $34.40 – indicating a lack of support at the previous level.

Small-Scale Technology Certificates (STCs)

STCs were quiet as the Clearing House remained in a deficit of just over 4 million certificates at the time of writing.

Certificates spot prices & graphs available at Market Update >

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. Thank you for your continued support, and please reach out if you have any general or project-specific questions.