How to sell VEECs: buyers, terms and settlement

You sell VEECs by transferring them in the VEU Registry to a buyer, almost always an energy retailer or a trader acting for one, in exchange for a price and settlement terms you have agreed in advance. The important decisions are not about how to click transfer but about who you sell to, whether the price is fixed or floating, how fast you are paid, and who carries the risk if the Essential Services Commission later reverses a certificate.

This guide covers the four routes, what they cost you, and the contract terms that matter more than the headline price. At the time of writing the VEEC spot market has traded roughly between $85 and $95 in 2026 after a record near $110, but your price will depend on what you negotiate.

The four ways to sell

Spot sale to a trader

You transfer certificates, the trader pays a price based on the day’s market, and settlement follows. This suits installers with irregular volumes. Compare published rates and ask how settlement works, because a good price paid in 30 days may cost you more than a slightly lower price paid in 2 days.

Direct sale to a retailer

Retailers need certificates and some will deal directly with providers that have consistent volume. You can earn a better price because there is no intermediary, but you carry the credit risk and do the admin yourself. Many providers find the effort is worth it above a certain volume only.

Forward and contract sales

A forward contract commits you to deliver certificates at an agreed price on agreed dates. It removes price risk, and it adds delivery risk: if your volume falls short you may need to buy certificates to cover or settle the shortfall. Keep contract volumes well below your expected creation.

What happens in the registry

1. You create the certificates after the job and evidence are complete.
2. You and the buyer agree price, volume and settlement terms.
3. You initiate a transfer in the VEU Registry to the buyer’s account.
4. The buyer confirms receipt and pays according to the agreement.

Never transfer a large batch before you have the agreement in writing and have checked the buyer’s account details. Transfers are not reversible by you.

Terms that matter more than price

• Settlement time. Days to settle, and whether it is from transfer or from the buyer’s acceptance.
• Reversal clause. What happens if the ESC reverses a certificate after you have been paid. Some buyers claw back; others share the risk.
• Pre-check rights. Whether the buyer can reject a batch and what the process is.
• Pricing basis. A fixed price, a discount to a published index, or “market”.
• Fees. Any fee, minimum volume or hidden spread.
• Exclusivity. Whether you are tied to one buyer.

A worked comparison

You have a batch of 500 VEECs.

• Trader A: $88 per certificate, paid in 30 days. Cash: $44,000 in 30 days.
• Trader B: $86 per certificate, paid in 2 days. Cash: $43,000 in 2 days.

B is $1,000 lower but the money arrives 28 days sooner. If you are funding materials on 30-day supplier terms, the faster cash may be worth more than the $1,000. If your cost of finance is, say, 12 per cent a year, 28 days on $43,000 costs about $400, so A is still ahead on pure arithmetic, but only by $600, and A leaves you exposed to a late-paying counterparty for a month. The right answer depends on your balance sheet. The point is to compare on the same basis.

Cash flow and timing

Certificates are created after the work, so you fund the job before you see the money. Track three numbers: days from installation to creation, days from creation to sale, and days from sale to cash. Reduce the first by doing evidence on site, the second by having a buyer ready, and the third by choosing a buyer with clear settlement terms. Our guide to VEEC payment time gives realistic ranges.

Tax and paperwork

Your accountant should confirm the GST and income tax treatment of certificate sales and what invoice format the buyer uses. For STCs, many buyers use recipient-created tax invoices, covered in our RCTI guide; confirm what applies to VEECs for your buyer and keep every transfer record.

A selling routine that holds up

Most providers who get this right do the same few things each month. They reconcile creation against sales so no certificates sit unsold by accident. They keep a short list of two or three buyers, so one slow payer does not stall cash. They write down the lowest price at which each activity still earns its margin, and they sell above it. And they keep their evidence files complete before any batch leaves the registry, because a buyer’s pre-check is the cheapest audit they will ever face.

If you create very small volumes, a monthly batch is usually more efficient than selling job by job, since many buyers set minimum parcel sizes. If you create large volumes, stagger sales across the month so you are not exposed to a single day’s price.

Warning signs in a buyer

Be careful of any buyer who will not publish or confirm a price in writing, who reserves the right to re-price after you have transferred certificates, who cannot explain how settlement works, or who asks you to transfer first and agree terms afterwards. Be careful too of a price that is far above the rest of the market. The Essential Services Commission can reverse certificates, and a buyer offering a premium may be pricing in nothing at all. If an offer looks too good, ask who holds the compliance risk and how they have been paid before.

Related answers: who buys STCs is the federal parallel, and VEEC traders covers the state market.

What to do next

1. Decide your volume and whether you want fixed or floating pricing.
2. Request published rates and settlement terms from at least two buyers.
3. Read the VEEC trading pillar and the pricing page to see how a trader presents rates.
4. For the creation side see how to create VEECs, and for the market context read the VEEC price forecast for 2027.