Industry market update and work program

The Victorian Energy Upgrades (VEU) program is the state’s largest energy efficiency program and a key measure in Victoria’s Climate Change Strategy.

Encouraging investment and employment in the energy efficiency sector is an objective of the program – certainty in the program is a key to achieving this.

Please find the following information below:

• quarterly publication of information in relation to the Victorian Energy Efficiency Certificate (VEEC) market.
• quarterly publication of information on the pipeline of residential and business activities, and regulatory reform work for the VEU program.

Market update - April 2026

The Department of Energy, Environment and Climate Action (the department) reports on aspects of the VEEC market, including information on the VEEC registration and spot price, and VEEC registration by activity.

The purpose of this reporting is to provide stakeholders with a high-level visibility of the VEEC market, and an understanding of what activities are currently creating VEECs.

When possible, this market information will be updated quarterly, covering data from the preceding months. The following update covers data up until March 2026.

Victorian Energy Upgrades work program

The department is working on a range of policy initiatives, including development of new and revised activities and regulatory reforms, to ensure the VEU program is robust and continues to meet its intended objectives.

Information on the work program is provided below.

This information will be updated on a quarterly basis (last updated April 2026).

Please note that these timeframes are indicative only and are subject to change. Stakeholders are advised not to make any commercial decisions based on future timeframes.

The order of the initiatives within each quarter of the timeline do not reflect the exact timing of the release of activities in relation to other activities in the VEU program.

Work program by activity type

Additional information on the work program

For information on the latest news, releases and announcements from the VEU program on new and revised activities and regulatory reform work, see the VEU latest industry news page.

For new and revised activities and regulatory reform projects open for consultation, or to see the outcomes of consultations, see the VEU program Engage Victoria page.

For information from the Essential Services Commission, the regulator of the VEU program, on recent updates to the VEU program, see the Updates to the VEU program | Essential Services Commission page.

Adding and revising activities

The department regularly reviews the range of energy efficiency upgrades available to receive incentives, ensuring they continue to reduce emissions and save consumers money.

A typical process for introducing or amending a VEU activity is outlined below. Please note that this is a guide only and the time involved, and steps may vary considerably depending on the scale of the work.

Please note, an activity is not an eligible activity under the VEU program until final regulations and specifications are in effect, and these have been communicated publicly.

Stakeholders are strongly advised not to make any decisions related to new or revised activities under the VEU program until final Regulations and Specifications have been approved and published.

The Department does not make any representation that any proposed changes set out will (i) take effect, (ii) will take effect on or by a particular date, or (iii) will take effect in the form proposed.

Page last updated: 08/04/26