Headline – Refreshed 21A GLS Activity Performance

• Changes to the 21A GLS replacement activity created a lot of enthusiasm amongst APs with the opportunity to revisit previously upgraded premises and replace CFLs with LED Abulbs.
• However, since coming into effect on 10^th of December 2018, creation from this activity has been below expectations.
• Below is a chart of the number of weekly VEECs created by each residential 21 activities since week ending 20^th Jan 2019. 21A is shown in red.
• The best weekly VEECs created were less than 9,000 meaning a maximum of just over 15,000 Abulbs were installed in the best week to date.
• In total it is estimated that less than 50k Abulbs have been installed since December 2018.
• As can be seen, creation growth during January was slow, with February showing signs of increased contribution, but the latest week has shown a reduction in creation.
• In the absence of problems with stock availability, reasons for this activity not reaching the creation levels hoped for are difficult to explain.
• Possible reasons could be the new requirement to have decommissioning receipts prior to creation or residential end user reluctance to having their lights exchanged for second, third or fourth time.

Results

Results

In the week ending 3^rd March 2019, VEEC creation was as follows:

• 88,624 down 2% compared to the previous week’s creation of 90,544
• The average for the last 3 weeks is 76,069
• Commercial Lighting contributed 61,315 (69%) compared to 64,494 (71%) the previous week
• The VEEC spot price was $19.50 COB Friday, up $0.15 from the previous Friday.

Analysis

The graph below shows the overall trend of total VEECs created each week.