ACP
Accredited certificate provider
AP
Accredited person
ASHP
Air-sourced heat pump
DSDBI
Department of Sustainable Development and Business Innovation (formerly Department of Primary Industries (DPI))
ELT
Emerging lighting technology
ESI
Energy saver incentive
ESC
Energy saving certificate
ESC
Essential Services Commission
ESS
Energy saving scheme
GHG
Greenhouse gas
IPART
Independent Pricing and Regulatory Tribunal
kW
Kilowatt
kWh
Kilowatt hour
LGC
Large-scale generation certificate
LRET
Large-scale renewable energy target
Liability
The obligation a relevant entity has to surrender a prescribed number of VEECs to the ESC each year. The number of VEECs is determined by multiplying their residential electricity and gas acquisition from the previous year, by the GHG reduction rate for each commodity.
Liable parties
"Liable parties, or mandatory scheme participants, comprise all holders of New South Wales electricity retail licenses, New South Wales electricity generators that supply directly to retail customers in New South Wales, and market customers in New South Wales who purchase their electricity directly from the National Electricity Market. Also known as Liable Entities, or Scheme Participants in the Regulation"
MW
Megawatt
MWh
Megawatt hour
MWp
Megawatt peak
NEM
National electricity market
NSP
Network service provider
PV
Photovoltaic (solar)
Prescribed activity
An activity that creates VEECs and causes a reduction in GHG emissions that would not have otherwise occurred, had the activity not been undertaken. These activities have detailed specifications that must be followed - such as the decommissioning of old products - in order for a certificate to be properly created.
RE
Relevant entity
REC
Renewable energy certificate
RET
Renewable energy target
Residential premises
A building classified under Part A3 of the Building Code of Australia as a Class 1, 2, 3, or 4 Building.
SGU
Small generation unit
SRES
Small-scale renewable energy scheme
STC
Small-scale technology certificate
SWH
Solar water heater
VEEC
Victorian energy efficiency certificate
VRU
Voltage reduction unit