Small businesses that run cold rooms or commercial fridges ask this a lot: what is the discount? The honest answer is that it is a calculation, not a fixed number.
How the discount is built
Under Victorian Energy Upgrades (VEU), an accredited provider installs an eligible upgrade and creates VEECs for the savings. It sells those certificates and passes some of the value to the customer as a discount. So your discount is:
certificates created x certificate value, less the provider’s costs and margin.
Two things move that: how many VEECs the activity creates, and what each is worth. At the time of writing the VEEC market has been roughly $85 to $95 in 2026; see the VEEC price today.
Cold rooms: how many VEECs
The cold room activity is for non-residential premises and uses a deemed method. As reported, changes to the activity set incentive levels by internal floor area: rooms under 4 square metres are no longer eligible, 4 to 9 square metres receive about 20 VEECs, above 9 and under 24 about 40, and 24 or more about 80. A new Cold Room Activity Guide was issued in March 2026. Treat those numbers as reported and confirm them in the current guide, because they change; see where to find activity guide versions.
At $85 to $95 a certificate, those counts imply a meaningful certificate value, but not all of it reaches the customer. Installation, product, compliance and the provider’s margin sit between the two.
Other refrigeration
Commercial refrigeration activities cover things like efficient display cases, door seals and controls, each with its own guide and eligibility. The same logic applies: certificates created, certificate value, provider’s share.
What to ask a provider
- Which activity and guide version are you claiming under?
- How many VEECs will you create for my site?
- What is the discount in dollars, and what do I pay?
- Are you on the Essential Services Commission’s accredited list? See who the accredited providers are.
What this means for installers
Know the band thresholds and take proper measurements. Keep the evidence the guide requires, because cold room claims are audited like any other; see what the ESC checks. Choose a trader whose rate and settlement suit a lower-volume, higher-value job; see VEEC trading and pricing.
What this means for small business owners
Get two quotes, and ask each to show the VEEC count, not just a discount. If two providers claim different counts on the same room, someone has the measurement or guide wrong.
Related
Selling VEECs explains what happens to the certificates after the job.