Iberdrola Australia Energy Markets Pty Ltd (Iberdrola Energy) shortfall statement 2023

31 October 2024 

Iberdrola Australia Energy Markets Pty Ltd (Iberdrola Energy)* paid a shortfall penalty of $904,770 after we issued the company with a Victorian energy efficiency certificate shortfall statement in September 2024. 

Under the Victorian Energy Upgrades program, energy retailers must acquire and surrender certificates created for energy efficient upgrades to offset emissions generated by their energy sales. 

Iberdrola Energy was issued this penalty as the number of Victorian energy efficiency certificates they surrendered for the 2023 compliance year was 10,053 short of its liability for the year. 

*The energy licence for Iberdrola Australia Holdings Pty Ltd was transferred to Iberdrola Australia Energy Markets Pty Limited on 28 May 2023, with effect from July 2023.