Headlines – Certificate creation over 100,000 4 weeks in a row  

• For the 4^th week running certificate creation was over 100,000 with a 3 week average of 130,000.
• 34 back on top with 64,000 certificates created, almost half of the weekly total across all activities.
• Consecutive strong weeks of creation see a $1.50 drop in spot price.
• The 2019 target has now been achieved with a 71,000 certificate surplus.

• The VEEC price dropped $1.50 for the week to $21.00 from last week’s high of $22.50.

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• The 2019 target is 6.3M with currently 6,371,317 already Registered or Created.
• Meaning the 2019 target has been achieved and is in surplus 71,000 certificates.
• The 2020 target is 6,500,000.
• This means in total, the scheme needs to be create 6,428,683 VEECs between today and the end of 2020. (83 creation weeks)
• Average creation for 2019 to this point has been 75k VEECs/week.
• To achieve the 2020 target we need to average 76k certificates per week.
• Current 3-week average is 130k VEECs/week.

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• Targets for 2021, 2022 & 2023 are being discussed at the moment and will be published soon.
• Below are last week’s results in detail.

Results

In the week ending 26^th May 2019, VEEC creation was as follows:

• 138,195 up 17% compared to the previous week’s creation of 117,737.
• The average for the last 3 weeks is now 130,715.
• Commercial Lighting contributed 64,367 (47%) compared to 44,291 (37%) the previous week.
• Updated 21A contributed 39,964 VEECs (28%) created compared to 51,918 VEECs (44%) the week before.
• The VEEC spot price was $21.00 COB Friday, down $1.50 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.