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Target Promotes Energy Efficiency And Victorian Jobs

06 October 2015

The Andrews Labor Government is moving to protect jobs and help Victorians reduce their energy bills with new legislation being introduced into Parliament today.

The Victorian Energy Efficiency Target (VEET) Amendment (Saving Energy, Growing Jobs) Bill 2015 will set targets to reduce greenhouse gas emissions by 30 million tonnes over the next five years.

The Labor Government announced the new VEET targets at Victoria’s first Energy Efficiency and Productivity Summit in August.

The VEET scheme supports more than 2,000 jobs across Victoria and has helped thousands of households and businesses reduce their energy bills.

The scheme encourages investment in energy efficient technology and creates jobs by providing households and businesses with incentives to install energy efficient products and to use energy efficiency services.

Under the VEET scheme, certificates are generated by accredited businesses undertaking improvements such as installing energy efficient appliances. Each certificate represents a tonne of greenhouse gas emissions that will be avoided. Energy retailers are required to surrender a specified number of energy efficiency certificates each year.

The Labor Government is supporting businesses and households to improve energy efficiency, reduce their bills and create jobs.

This includes the development of an Energy and Efficiency Productivity Strategy, which will establish a tangible work program aimed at improving energy affordability, creating jobs, encouraging investment in new energy technologies and building a sustainable economy.

Quotes attributable to Minister for Energy & Resources, Lily D’Ambrosio

“This Government is helping Victorian businesses and households to reduce their bills and become more energy efficient.”

“We made an election commitment to retain the VEET scheme, and we’re fulfilling that promise.”

“The VEET scheme supports more than 2,000 jobs across Victoria, and is part of our plan to improve energy affordability and boost investment in new energy technologies.”

Reviewed 19 August 2020

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