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Vic Govt commits to VEET scheme


Source: Climate Spectator, 19 Dec 2014

Victorian Energy and Resources Minister Lily D’Ambrosio today announced that the Victorian Government will retain the Victorian Energy Efficiency Target (VEET) scheme, saying the move would save 2000 jobs.

The target for the scheme for 2015 will be 5.4 million Victorian energy efficiency certificates. Each certificate represents a tonne of greenhouse gas emissions that will be avoided. The scheme helps participating households and businesses save money by improving energy efficiency.

The government will review the scheme in the first half of 2015, with a view to strengthening it even further, it said.

“Energy efficiency is one of the best ways for homes and businesses to reduce bills and greenhouse gas emissions," Ms D’Ambrosio said.

“We are retaining the VEET scheme, helping Victorians reduce their energy bills and creating more Victorian jobs.

“The scheme supports more than 2000 jobs across Victoria and the Andrews Labor Government is protecting them.”

The former Liberal Government had planned to terminate the scheme at the end of next year.

The scheme requires energy retailers to provide incentives to Victorian households and businesses for undertaking improvements such as installing energy efficient appliances.