Ipower 2 Pty Ltd and Ipower Pty Ltd (Engie) shortfall statement 2023

31 October 2024

Ipower 2 Pty Ltd and Ipower Pty Ltd (trading in partnership as Engie) paid a shortfall penalty of $27,989,190 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. 

Engie was issued this penalty as the number of Victorian energy efficiency certificates they surrendered for the 2023 compliance year was 310,991 short of its liability for the year.