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Energy & Resources: Labor spend $1.17m on second review of VEET scheme

The Andrews Labor Government has today confirmed it will spend $1.17 million on a second review of the Victorian Energy Efficiency Target (VEET) scheme as part of the 2015/16 state budget’s total allocation of $1.9 million for ‘Energy efficiency and productivity’ measures.

Energy and Resources Minister Lily D’Ambrosio today told the Public Accounts and Estimates Committee that the Government’s plan for energy prices in Victoria was a second review of VEET with a predetermined outcome of strengthening the costly scheme.

A review of VEET occurred in February 2014 in the form of an independent Business Impact Assessment commissioned by the then Department of State Development and Business Innovation.

The BIA found the continuation of VEET would cost the Victorian economy $700 million, non-participants $50 per annum and impact low-income households the most as future initiatives under the scheme would require upfront co-contributions.

The Minister also confirmed when asked that neither she nor her department were exploring whether businesses were engaging in deceptive practises or high-pressured sales tactics through the VEET scheme.

Comments from Shadow Energy and Resources Minister David Southwick MP

“Only under Labor would you see $1.17 million spent on a second review of a canned scheme with a decision already made.

“Minister D’Ambrosio has ignored departmental advice by strengthening a scheme which will hurt Victorian businesses, consumers and impact low-income households the hardest.

“The fact that Daniel Andrews has no measures in place to stop dodgy businesses from taking advantage of Victorians through the VEET scheme is a disgrace.”

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