the Victorian Energy Upgrades (VEU) program will be extended from 2023/30 to 2045, giving households and businesses much more time to access energy-saving upgrades like heat pumps, insulation, and efficient appliances.

the rules for when energy retailers must surrender certificates will become more flexible—they can now use certificates generated right up until their liability deadline, rather than being cut off at December 31

the Essential Services Commission (ESC) will gain new enforcement powers, including the ability to issue improvement notices, prohibition notices, and civil penalties, as well as requiring mandatory training for scheme participants—enhancing compliance and protecting consumers.

the program’s definition of eligible activities will expand—to potentially include peak energy demand management (e.g., installing solar batteries) and making insulation a recognised upgrade activity if energy assessments have been done.

target setting will shift from rigid five-year intervals to flexible two-year tranches to accommodate an ongoing strategic review of the program