Victorians face higher carbon credit prices due to the VEU program, leading to increased electricity bills.

Victorians face higher carbon credit prices due to the state’s gas removal initiative, the Victorian Energy Upgrades (VEU) program, which incentivizes replacing gas appliances with electric alternatives. This program requires electricity retailers to purchase millions of Victorian Energy Efficiency Certificates (VEECs), costs that are passed on to consumers, resulting in bills up to three times higher than in other Australian states. The Allan government plans to implement measures to reduce these costs.

October 08, 2024
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