Headlines – Increased Creation & VEEC Price Unchanged

• Last week saw another strong week of creation as APs continued to catch up on work post Easter holidays with over 135k VEECs created. Please refer to the graph below of the two most popular activities.

• The VEEC price remained unchanged in a quiet week of trading at $22.00.

• The 2019 target is 6.3M with currently 6,114,990 already Registered or Created. (5.3M Registered, 78k Created awaiting Registration)
• Meaning the 2019 target requires only 185,010 more VEECs to be created between now and the end of the year to satisfy this target.
• At current creation rates this will be reached in the next few weeks.
• The 2020 target is 6,500,000.
• This means in total, the scheme needs to be create 6,685,000 VEECs between today and the end of 2020. (86 creation weeks)
• Therefore, an average of 78k VEECs need to be created every week between now and then.
• Average creation for 2019 to this point has been 70k VEECs/week.
• Current 3-week average is 89k VEECs/week.
• Targets for 2021, 2022 & 2023 are being discussed at the moment and will be published soon.
• Below are last week’s results in detail.
•  ResultsIn the week ending 12^th May 2019, VEEC creation was as follows:
  • 136,213 up 35% compared to the previous week’s creation of 100,747.
  • The average for the last 3 weeks is now 88,993
  • Commercial Lighting contributed 75,752 (55%) compared to 55,084 (55%) the previous week
  • Updated 21A contributed 44,406 VEECs (32%) created compared to 25,914 VEECs (26%) the week before.
  • The VEEC spot price was $22.00 COB Friday, unchanged from the previous Friday

Analysis

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

The graph below shows creation against targets.  The right hand axis is for the cumulative creation and cumulative target, and the left hand axis the weekly creation.  Please note, this is creation – not all VEECs created are registered.

To give you a visual breakdown of Activities for the week, please see below.