Victorian Energy Efficiency Target Amendment (Targets and Shortfall Penalty Rates) Regulations 2025 (Vic)

Victorian Energy Efficiency Target Amendment (Targets and Shortfall Penalty Rates) Regulations 2025

S.R. No. 27/2025

TABLE OF PROVISIONS

Regulation  Page

1Objective

2Authorising provision

3Shortfall penalty rate

4VEET scheme target

═════════════

Endnotes

STATUTORY RULES 2025

S.R. No. 27/2025

Victorian Energy Efficiency Target Act 2007

Victorian Energy Efficiency Target Amendment (Targets and Shortfall Penalty Rates) Regulations 2025

The Lieutenant-Governor as the Governor's deputy, with the advice of the Executive Council, makes the following Regulations:

Dated: 20 May 2025

Responsible Minister:

LILY D'AMBROSIO
Minister for Energy and Resources

ANGELA SMITH

Clerk of the Executive Council

1Objective

The objective of these Regulations is to amend the Victorian Energy Efficiency Target Regulations 2018—

(a)to prescribe the VEET scheme target for the years 2026 and 2027; and

(b)to prescribe a new shortfall penalty rate for the years following 2025.

2Authorising provision

These Regulations are made under section 75 of the Victorian Energy Efficiency Target Act 2007.

3Shortfall penalty rate

For regulation 41(e) of the Victorian Energy Efficiency Target Regulations 2018[1] substitute—

"(e)for 2023, 2024 and 2025, $90; and

(f)for every subsequent year, $100.".

4VEET scheme target

At the end of regulation 41A of the Victorian Energy Efficiency Target Regulations 2018 insert—

"(2) For the purposes of section 30(g) of the Act, the prescribed target is—

(a)in 2026, 4⸱4 million tonnes of carbon dioxide equivalent; and

(b)in 2027, 4⸱6 million tonnes of carbon dioxide equivalent.".

═════════════

ENDNOTES

[1] Reg. 3: S.R. No. 145/2018 as amended by S.R. Nos 145/2018, 142/2020, 97/2021, 153/2021, 171/2021, 37/2022, 93/2022, 25/2023, 60/2023, 26/2024 and 109/2024.