HOW IS THE THE VEET SCHEME FUNDED? ARE MY TAXES PAYING FOR THIS?
December 23, 2022
By GSadmin
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The VEET scheme works by allowing accredited businesses to create certificates when they help you make selected energy efficiency improvements to your premises. Each certificate – known as a Victorian energy efficiency certificate, or VEEC – represents one tonne of greenhouse gas abated and the money the accredited business makes from selling its certificates can go towards a discount on the product or appliance installed for you. Each year large energy retailers are required to purchase a set number of VEECs to fulfil their obligations under the scheme and then surrender those certificates to the ESC. The energy retailers may pass on to consumers all or part of the cost of meeting this obligation.
