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VEECs and Victorian Energy Upgrades deep dive

How do VEU refrigerated cabinet discounts work?

Short answer

Activity 32 covers high-efficiency refrigerated display cabinets at non-residential sites, but some product classes have carried a discount factor of zero since June 2022, so they earn nothing. Check the product class before you promise a discount; cold rooms and fan motors have their own activities.

Written and checked by the Energy Merchants desk · Reviewed 3 October 2026 · For installers and homeowners

Supermarkets, convenience stores, cafes and bottle shops run refrigerated display cabinets all day. Victorian Energy Upgrades (VEU) has an activity for replacing them with high-efficiency models, but it is not as generous as the name suggests.

What activity 32 covers

Activity 32 is the installation of a high-efficiency refrigerated display cabinet at a non-residential premises. The Essential Services Commission (ESC) lists it as non-residential only, and notes that certain product classes have been “subject to a discount factor of zero” since 29 June 2022. In practice, if a cabinet falls in one of those classes, it creates no certificates, however efficient it is.

That is the first thing to check when a customer asks how much the VEU discount is for a new cabinet. For some products, the honest answer is nothing.

How much is the discount where it applies?

Where a class does earn certificates, the count is set by the ESC’s calculation for the product, and the value is those VEECs sold on the market (about $85 to $95 at the time of writing), less the provider’s costs. We do not publish a flat cabinet discount because the count differs by product and size. Ask the accredited person to show the certificates created and the price applied.

  • Activity 33: high-efficiency refrigeration fan motors, non-residential.
  • Activity 43: upgrading or installing cold room refrigeration systems, non-residential.
  • Project-based activities: bespoke refrigeration plant upgrades measured before and after. See how project-based activities work.

For a shop fit-out, the better VEEC opportunity is often lighting or a cold room upgrade, with the cabinet as an extra.

What this means for installers and suppliers

  • Check the VEU product register for the exact model, and its class, before you quote.
  • Do not advertise a VEU discount on a class with a zero factor.
  • Collect a signed VEEC assignment form and keep photos of the old cabinet, the new nameplate and the install.
  • Know that audits test whether the product on site matches the product registered, which is covered in what the ESC checks.
From the desk: a quote that promises a rebate on a zero-factor cabinet becomes your problem at handover. Verify the class first, then price.

Selling the certificates

Cabinet jobs are small, so they work best as part of a bigger site package. Our guide on how VEECs work from upgrade to payment shows each step, and the VEEC trading pillar explains how Energy Merchants settles them. The current rate is on /pricing/. If you want a named account manager on commercial parcels, start trading.

The ESC updates product classes and discount factors from time to time. Check its activity page before you rely on this summary.

Follow-up questions

People also ask

Do all refrigerated cabinets earn VEECs?
No. The ESC has applied a discount factor of zero to certain product classes, which means no certificates for those.
What other refrigeration activities exist?
Activity 33 for refrigeration fan motors and activity 43 for upgrading or installing cold room refrigeration systems.
Can a residential fridge claim this?
No. Activity 32 is non-residential. Household fridges and freezers fall under activity 22.

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