• • All Energy is just around the corner!

  • $32M Solar Boost: New Round Opens for Victorian Apartments.

  • LGCs continues its gentle softening.

  • VEECs market participants anticipates higher supply levels.

  • ESCs prices strengthens.

  • PRCs creation levels are lower compared to last months.

  • ACCUs shows stability this week.

  • STCs surrender period coming close.

All Energy is just around the corner!

Be sure to catch our Team at All Energy:

Aaron Jenkins on Day 1 at 13:00- 13:20 on Energy Management Stage.
Katie Tebbatt on Day 2 at 13:20-15:00 on the Bioenergy Future Trends Stage.

 

Keep an eye out for the rest of the team and say hello – we will be there both days.

$32M Solar Boost: New Round Opens for Victorian Apartments.

Round 3 of the joint Victorian and Australian government Solar for Apartments Program has opened, injecting $32 million to help apartment residents access shared rooftop solar. 

5,000 rebates are available, offering significant financial incentives to overcome the unique challenges of solar installation in apartment complexes. The funding structure provides rebates of up to:

• • $2,800 per household
  • $140,000 per building (Owners Corporation cap)

To be eligible, applicants must be a Victorian Owners Corporation (formerly body corporate) representing up to 50 occupiable lots. “Building Champions” – authorised residents – can apply on behalf of the Owners Corporation. Since its launch, the initiative has already helped over 3,200 families, including many renters who now save up to $500 annually on energy bills.

 

Applications are open until 30 April 2026, or until all 5,000 rebates are exhausted.

Weekly Market Update | 20 – 24 October 2025.

Large-Scale Generation Certificates (LGCs)

The LGC spot market continued its softening this week, with prices seeing a steady decline. Prices opened Monday at $10.80 but softened on Tuesday, trading down to $10.50. This trend continued through Wednesday, where the price settled at $10.40 on high volume. The week closed at a new low of $10.30 on Friday.

 

The LGC forward market experienced softening across all major contracts. The week opened with the CAL 26 contract trading lower, dropping to $9.75 by Monday’s close. This decline continued mid-week with the near-term CAL 25 contract falling to $10.40, while the CAL 26 price settled at $9.50 on Wednesday and Thursday. The market also confirmed a deeper long-term discount, with the CAL 28 contract falling from $6.00 to $5.90, signaling persistent low market expectations for certificate prices in the later years.

Victorian Energy Efficiency Certificates (VEECs)

The VEEC spot market continued its downward trend this week, moving from a stable opening to a softer close. The market opened Monday around $84.75 to $85.00 but then experienced a consistent downward softening by week’s end. By Thursday, prices had dropped to a range of $84.25 to $84.50, and the decline continued into Friday, where the market closed lower at $84.15. Market participants are expecting high supply volumes given the recent introduction of the new activity.

The VEEC forward market was quiet this week, with trading volumes across the 2026 vintages settling in a narrow, discounted range between $83.00 and $83.25 for the periods between May- October 26. Only one put trade at $3.95 went ahead for Dec-26 vintage for $70.00/$80.00 in 100k trade. 

Energy Saving Certificates (ESCs)

The ESC market showed strengthening this week. The spot market rallied from $24.25 to a high of $25.00 mid-week and closed with a notable net gain, successfully staying at that price level. Concurrently, the forward market showed a strong premium, with the near-term Nov-25 contract stable at $25.00, while longer-dated 2026 and Sep-27 vintages traded higher at $25.90 and $26.30, respectively.

 

The strengthening in prices may be attributed to the lower ESC creations compared to previous months. ESC creations this week sits marginally lower compared to last week’s at 51k bringing the total creations of this month to only 40% in comparison to September’s creations level. 

Peak Reduction Certificates (PRCs)

The PRC market experienced an extremely quiet week, with no trades reported in the spot market. Trading activity was minimal, limited to a single forward trade: a Dec-25 vintage of a 55k trade clearing at $2.95. Furthermore, PRC creation levels were significantly lower, registering 141k PRCs, representing a 50% reduction compared to the volume created last week.

Australian Carbon Credit Units (ACCUs)

The ACCU spot market demonstrated strong stability early in the week before experiencing a gradual softening toward the close. Trading remained in a narrow range between $38.45 and $38.65 on Tuesday and Wednesday, with a large volume of No AD certificates clearing at the higher end of the range. Prices then eased on Friday, with standard ACCUs trading down to $38.40 and a volume of No AD certificates trading at $38.35. Overall, the market ended slightly lower, indicating that demand at the higher price points of $38.65 was not sustained through the week.

 

The ACCU (HIR) spot market remained exceptionally stable this week, gradually firming up from an opening trade of $38.25 on Monday to settle consistently at $38.50 from Tuesday through Friday. Only one forward trade for Dec-25 went through at a 10k trade of $38.60.

Small-Scale Technology Certificates (STCs)

The same could be said for the STC market, with no trades reported for the week both from the spot or forward market. Prices remain at an all time high of $39.90 entering the end of Q3’s surrender period. The clearing house remained at a surplus upon writing this article. No further BSTC purchases have been made since 16 October. 

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.