NSW Metering Plan Implementation Grant: Unlocking Energy for Your Business
Key Information:
- Status: Open now
- Grant Amounts: NSW business can apply for up to $100,000 covering 50% of costs.
- Applications Close: 14 June 2024 or when funding is exhausted
APPLY NOW for a Metering Plan Implementation Grant:
Receiving up to $100,000 covering half the costs of installing an energy metering and monitoring system. This grant empowers business to unlock valuable data, potentially saving 5 to 15% in energy costs, improving energy performance, and assessing the practicality of electrification at their sites.
Grant Overview:
This grant, part of the $12 million metering package, supports businesses in implementing energy metering and monitoring plans. With $1.5 million available in round 1, eligible projects must be completed within 6 months of the funding deed start date
Eligibility Criteria:
To qualify, your business must:
- Have a metering and monitoring plan (not older than 3 years).
- Possess an ABN and be GST registered.
- Conduct a minimum annual energy spend of $200,000 at the NSW site.
- Have a complex energy system with multiple processes, distribution systems, energy types, and end uses.
- For commercial buildings, only the base building is eligible, with an occupancy certificate issued before 1 January 2022.
Don't Miss Out!
This is a limited opportunity, and the first-round closed on 14 June 2024 or when funding is exhausted.
Act now to enhance your energy efficiency and contribute to NSW’s net-zero emissions by 2050.
For detailed information on eligibility, the application process, and success stories, visit:
For any assistance in scoping your metering needs or applying for this grant, please reach out to: Nicklas@metimurenergy.com.au
Metimur and our partners Wattwachers and A2EP are ready to assist.
VEEC Spot hitting new records, NSW ESC down
VIC VEEC spot price rising
As can be seen in the Core Market weekly report from this Monday the VIC VEEC spot price has been steadily climbing since mid November 2023 from a plateau around $86 to now trading around $96. The new activities announced for later in the year appears to not have aroused the market and VEEC creation volumes therefore predicted to not increase anytime soon, so the price will stay high.
NSW ESC price trending down
The NSW ESC spot price has seen the reverse trend recently and currently sitting at $23.25. No significant changes to the scheme announced for this year and therefore the market expects the current creation volumes to continue. The demand PRC spot price is also down, currently at $1.15.
VEU Electricity Emission Factors reduced again from 1 Feb 2024, creating 20.8% less VEECs from the same savings.
The VEU Electricity Emissions Factors is reduced again from 0.6738 to 0.5334 from upgrades completed after 31 January 2024. This impacts all electric to electric upgrades including water heating, space conditioning, lighting, appliance activities, and project-based activities. Note that if you are instead removing a gas unit, for example a commercial boiler and installing an electric heat pump the VEECs will go up slightly from 1 Feb 2024.
The impact on standard lighting upgrades scenarios can be found in the above chart.
For further details on this change refer to ESCs email per link below.
NSW ESS Rule Change: $200 minimum co-payment for hot water and air-con upgrades
The key changes in the 2023 ESS Rule, commencing on 19 June 2024, include:
- New baselines and calculations to ensure energy savings from residential and small business hot water systems better reflect real-world savings.
- Adjustment of co-payments for residential hot water and addition of new co-payments for residential air conditioning and commercial hot water heaters. This is to provide best outcomes for customers (see Table 1).
The latest ESS Rule
VEU introducing Rebates for Electric Induction Cooktops later in 2024
In addition to VIC state Government banning gas connections to all new homes from January 1, 2024, the VEU will soon be offering rebates for replacing gas cooktops with induction stove tops.
- A public consultation in the first half of 2024 will inform the design and implementation of a new VEU activity, incentivizing households to install induction cooktops.
- Discounts for some consumer models are expected to be offered in the second half of 2024, encouraging a widespread shift to more energy-efficient cooking appliances.
Rebates for Electric Induction Cooktops:
As part of the state government’s push to eliminate consumer gas use, Victorian households can now claim rebates of up to $150 for electric induction cooktops.
These rebates, available from next year through the Victorian Energy Upgrades program, aim to incentivize the adoption of energy-efficient cooking solutions.
Benefits of Induction Cooktops:
- Choosing an efficient induction cooktop over gas alternatives offers numerous advantages.
- Induction cooktops are approximately three times more efficient than gas, contributing to lower bills and reduced emissions.
- They are healthier, avoiding harmful emissions that can cause respiratory issues.
- Favored by professional chefs for precision, speed, and temperature control, induction cooktops also keep kitchens cooler.
- Transitioning to induction cooktops may be the last step allowing homes to go gas-free, avoiding annual gas network connection charges of around $350 to $400.
Metimur and Green Home Green Planet already have experience from replacing gas with induction stove tops from ACT and plan to be accredited in Victoria as soon as the scheme is active. Contact nicklas@metimurenergy.com.au if you want discuss this opportunity now.
Sustainable Australia Fund is being liquidated
The Sustainable Australia Fund (SAF) was Australia’s leading provider of Energy Upgrade Finance offered in partnership with local councils.
Per ASIC notice issued 18 December 2023:
“Notice is given that at a general meeting of the members of the Company held on 15 December 2023, it was resolved that the Company be wound up and that Glenn Ian Livingstone be appointed liquidator(s)”
Note that Metimur was only in preliminary talks with SAF about providing M&V PBA support for some of their Energy Upgrade Finance projects but had not yet entered into any contracts. If you still think we can help in any way with a SAF funded project you were involved in, please reach out:
Nicklas@metimurenergy.com.au
A2EP: Federal Governments Community Upgrade Fund open for Applications!
From our partners at Australian Alliance for Energy Productivity (A2EP):
On 21 December Santa came early for councils looking to reduce energy costs and emissions: the Australian Government announced that the Community Energy Upgrade Fund is now open for first round applications.
If you want to discuss your project and applicability for funding, please reach out to:
Nicklas@metimurenergy.com.au
VEU: Refrigerated Cabinets are coming back with a $500 minimum co-payment
The original refrigerated cabinet activity led to free fridges being dumped outside many businesses and the resulting VEECs flooding the market so the spot price crashed from ~$80 to ~$50 before it was shut down late June 2022 after the VEEC price quickly rebounded. Now the activity is coming back but with a Minimum customer co-payment of $500 plus a few other tweaks that should remove the risk of fridges being dumped again for free.
Key Decisions from the VEU consultation and review Include:
- Minimum customer co-payment of $500 for new or replacement RCs.
- Decommissioning requirement with revamped incentive calculations.
- Exclusion of four-sided display area products for improved quality.
- Food-safe requirements to ensure RCs are fit for purpose.
- Transition timeframe to facilitate remote RC upgrades.
- No-go on additional warranties, RC installation limits, and business eligibility changes.
Updated regulations and specifications, along with the reintroduction of RC activity, are set for July 1, 2024.
You can find the Response to Consultation on the following Engage Victoria page: