• • NABERS rating system under review.
  • NSW Renewable Fuel Scheme expands to include Biomethane.
  • Handy tips for summer energy savings.
  • LGCs decline yet again.
  • VEECs continue to rebound from recent lows.
  • ESCs slip back.
  • PRCs lose ground undermining previous gains.
  • ACCUs edge back.
  • STCs nudge forwards in light trading.

NABERS ratings under review.

In response to Australia’s decarbonising grid, NABERS has proposed a major change to Energy ratings.

Currently, ratings use factors provided by the government to convert energy use (electricity, gas, etc.) into emissions. As the grid decarbonises, electricity emissions factors are declining and are expected to fall below gas by 2030. Hence all-electric buildings could soon appear to have low emissions regardless of efficiency, leading to potentially inaccurate ratings.

The proposal is to measure NABERS Energy ratings based on energy units (MJ or kWh), treating all sources equally for measuring energy efficiency. Emissions, fossil fuel and renewable energy use will still be reported, and the Renewable Energy Indicator will continue to show the renewable energy proportion consumed.

More information is available on the NABERS website.

Ecovantage has qualified NABERS assessors – reach out if you’d like to know more

NSW Renewables Fuel Scheme – a welcome expansion.

The NSW Government recently launched its Renewable Fuel Strategy to boost the production and use of renewable fuels across the state.

The Strategy details 20 specific actions, including:

• Expanding the Renewable Fuel Scheme to incorporate biomethane.
• Allocating up to $170 million in funding to support renewable fuel and biomethane production facilities in NSW.
• Investing in research and innovation to boost industry capabilities, such as running crop research and development trials with primary producers to test and demonstrate biomass production opportunities.
• Facilitating the expansion of GreenPower certification to encompass a wider range of renewable fuels and co-products.

The grants and incentives provided under the Renewable Fuels Strategy will help create production facilities in NSW, attracting investment and creating jobs in regional areas.

Ecovantage welcomes this initiative, which you can read more about in our latest feature article.

Tips for reducing summer energy bills.

As Australia rolls into summer and temperatures start to soar, the RACQ has published a handy guide to help Australians keep on top of their energy bills.

• Where possible use fans over air conditioning and close windows, curtains and doors
• Set your air conditioner to 25 degrees for maximum efficiency
• If you have a ducted air conditioning system, set it to cool the rooms you are using
• Use reflective blinds or awnings outside windows that are more susceptible to heat
• Seal gaps around doors and windows to prevent cool air escaping
• Choose energy efficient appliances

The RACQ also reminded everyone that installing solar panels and a home battery also remains a compelling way to reduce energy costs. Ecovantage can help generate the various government incentives that are available for most energy efficient upgrades, including air conditioning, hot water heat pumps, LED lighting, solar and batteries.

Weekly Market Update | 24 – 28 November 2025

Large-Scale Generation Certificates (LGCs)

In yet another low week for LGC prices, the spot price slid once again – falling from $7.50 to as low as $6.50 in a small 5k trade on Wednesday, before partially recovering to $7.25 on Thursday.

Forward markets saw a similar pattern – with some sharp declines mid-week, followed by partial recovery. As the year draws to a close Cal25 finished the week at $7.20, a decline of $0.80. Cal26 was down $0.30 to $7.35, and Cal27 ended at $6.25 – a drop of $0.25.

While this means there’s little money on the table to help subsidise the cost of solar systems over 100kW, on the flipside the low pricing markedly reduces the cost for those looking to offset their Scope 2 emissions through the purchase and surrender of LGCs.

Victorian Energy Efficiency Certificates (VEECs)

After a period of downside volatility, which saw the spot price fall below the $75 mark just two weeks ago, this week saw a buoyant recovery in the VEEC price – which traded up as high as $86.00 on Thursday, before settling back to $84.00.

As per the spot market, forward trading picked up as the week progressed, culminating in an active day on Thursday, which saw trading across all vintages between Dec 25 and Dec 26. Gains were seen across the board – with the standout improvements being:

• A 10K parcel in Dec 25 at $89.00 – up $13.75 on its previous trade
• A 15K parcel in Feb 26 also at $89.00 – up $11.75

While forward pricing is currently factoring in a premium for the period up to March 2026, beyond that pricing is more in-line with the current spot price.

Energy Saving Certificates (ESCs)

Certificate registrations were again up on previous weeks – with approx. 234k ESCs registered. Almost half of these certificates were registered under the Sale of New Appliances, and around one-third were under the Home Energy Efficiency Retrofits activity. Commercial Lighting made up just over 10% of registrations during the current week.

In what was a relatively light trading week the ESC spot price slipped back by $0.25 to $23.70 on Monday, before firming back to $23.75 during the second half of the week.

The forward markets were even quieter, with a single 50K parcel in August26 trading on Monday at $24.50. This was a full $1.00 lower than the previous trade in this vintage.

Peak Reduction Certificates (PRCs)

Following the recent surge in the PRC price, the latest trading week saw the PRC spot switch to reverse gear. First 200K certificates traded at $2.93, and then a further 300k traded on Thursday at $2.80. This resulted in a 7% price decline week on week.

While the forwards were relatively quiet – four 50k strips across Dec26, Jan27, Feb 27 and Mar27 each traded at $2.94 – an increase of between $0.19 and $0.29 on their previous positions.

Australian Carbon Credit Units (ACCUs)

After a relatively steady and stable week of trading, the generic spot ended by falling back by $0.60 to $35.90. And the no Avoided Deforestation spot (No AD), which was a little more active, also wobbled around, closing the week at $36.00 – a $0.30 decline week-on-week.

There was some minor activity on the No AD forward markets – with a 25k parcel in April26 trading down by $1.25 to $36.65. And then at week’s end a 40k parcel in Dec25 traded at $36.00- a sharp decline of $3.00 on the previous trade in this vintage.

The Human Induced Regeneration (HIR) spot mirrored the other spot markets, with a small parcel of 5k finishing the week at $36.00 flat – representing a $0.45 decline.

Small-Scale Technology Certificates (STCs)

Trading was extremely light on the STC market, with a single 30k parcel exchanging midweek at $39.95 – a minor $0.05 increase on previous trades. There was no activity on any of the forward markets.

The registry remained in surplus to the tune of just over 2.2 million certificates – which is almost 6 times higher than just 2 weeks ago.

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.