11 October 2022
The following greenhouse gas reduction rates for 2023 have been fixed under the Victorian Energy Efficiency Target Act 2007:
- 0.16307 for electricity
- 0.01314 for gas.
These rates were recommended by the Minister for Energy and published in the Victoria Government Gazette.
When multiplied by the amount of energy expected to be purchased by energy retailers in 2023, the rates determine the number of certificates each retailer needs to surrender to meet the 2023 Victorian Energy Efficiency Target of 6.9 million tonnes of greenhouse gas abated, while adjusting for differences between estimated and actual energy purchases in past years.
The greenhouse gas reduction rates were determined in consultation with the Essential Services Commission.
Page last updated: 25/10/22