Victorian Energy Efficiency Target in Australia

The Victorian Energy Efficiency Target (VEET) Is a Victorian Government initiative intended to boost energy efficiency leading to a reduction in greenhouse gas emissions. The program, marketed as the Energy Saver Plan, enables Approved Practices in either residential or business areas that increase energy efficiency.

These practices include replacing less effective lighting, showerheads, and solar hot water systems as well as adding, to name just a few, weather sealing.

Accredited individuals conducting these Approved Tasks are awarded a Victorian Energy Efficiency Certificate (VEEC), containing one ton of carbon dioxide equivalent degraded. Energy Retailers must buy and return a fixed amount of VEECs each year to meet their contractual duty.