VEET scheme registry accounts

From 1 November 2023, people who hold, transfer and surrender Victorian energy efficiency certificates (VEECs) must have a VEET scheme registry account. This includes accredited persons, relevant entities and other parties that hold or transfer VEECs (such as traders).  

This requirement aims to ensure that all Victorian Energy Upgrades (VEU) participants have been assessed as 'fit and proper persons' to operate with integrity in the VEU program.

What this means for you

If you held VEECs on 1 November 2023:

To continue to be able to hold, transfer and surrender VEECs, please apply for a VEET scheme registry account before 1 November 2024. If you do not wish to apply for a VEET scheme registry account before 1 November 2024, you must sell or transfer your VEECs by this date. You can apply for a VEET scheme registry account at any time in the future should you wish to hold VEECs again.

If you did not hold VEECs on 1 November 2023:

You must apply for a VEET scheme registry account now in order to continue holding, transferring and surrendering VEECs. If you currently hold VEECs but do not wish to obtain a VEET scheme registry account, you must sell or transfer your VEECs to another account holder.

If you have a related body corporate also participating in the VEU program:

If you belong to a group of related body corporates, please note that only one of those related body corporates is permitted to hold a VEET scheme registry account. Please contact VEU Support by phone on (03) 9032 1310 or email at veu@esc.vic.gov.au for further advice prior to applying for your VEET scheme registry account.

How to apply for a VEET scheme registry account

When applying for a VEET scheme registry account, applicants are required to demonstrate that they are a ‘fit and proper person’ to hold VEECs. This includes providing information about the applicant’s business history, compliance history and submitting National Police Check Certificates for all officers of the applicant. 

The processes and requirements to apply for a VEET scheme registry account differ for accredited persons, energy retailers and other parties. Further information about these application processes is outlined below.

Accredited persons – existing and new applicants for VEU accreditation

To support accredited persons and applicants seeking VEU accreditation to apply for a VEET scheme registry account, the application has been built into the new VEU accreditation application form. Any accredited persons that applied for accreditation or the renewal of their accreditation when this option was not available will be contacted and supported to set up their VEET scheme registry account. 

Given the assessment against ‘fit and proper person’ criteria that occurs during the accreditation application and accreditation renewal processes, there is no additional fee charged to accredited persons applying for a VEET scheme registry account.

Energy retailers 

To apply for a VEET scheme registry account, energy retailers must complete the following steps:

1. Download the VEET scheme registry account application form.
2. Follow the instructions on the form. 
3. Email the completed form and supporting documents to veu@esc.vic.gov.au.
4. Respond to any requests for further information.
5. Wait for written confirmation of the outcome of your application.

The $2,000 VEET scheme registry account application fee will be waived for energy retailers that have already been assessed as a ‘fit and proper person’ by an Australian regulator under an equivalent test. For example, through an electricity or gas licensing process.

If you have not been assessed as a ‘fit and proper person’ by an Australian regulator under an equivalent test, you will be invoiced the $2,000 VEET scheme registry account application fee. You must pay this fee before your application can be assessed. 

VEEC traders 

Any other persons or organisations wanting to hold, transfer or surrender VEECs must complete the following steps to apply for a VEET scheme registry account. 

To hold a VEET scheme registry account you must first open a VEU administrative account. If you do not already have a VEU administrative account, you can open one by following the instructions here: Open a VEU administrative account. 

To apply for a VEET scheme registry account:

1. Download the VEET scheme registry account application form.
2. Follow the instructions on the form. 
3. Email the completed form and supporting documents to veu@esc.vic.gov.au.
4. You will be invoiced a $2,000 application fee. This fee must be paid before your application will be assessed. A waiver of this fee may be available if you have already been assessed as a ‘fit and proper person’ by an Australian regulator under an equivalent test.
5. Respond to any requests for further information.
6. Wait for written confirmation of the outcome of your application.