Headlines – Creation drops below 100k for first time in 4 weeks, but VEEC price softens

• Creation dropped below 100k for the first time in 4 weeks
• 96k certificates were created, which is still well above the required weekly target of 76k certificates
• Strong creation has seen the certificate price drop to $20.70
• June 30 deadline for creating certificates from 2018 work fast approaching

• The VEEC price dropped $0.30 for the week to $20.70 from last week’s high of $21.00.

• The 2019 target is 6.3M with currently 6,463,771 already Registered or Created.
• Meaning the 2019 target has been achieved and is in surplus 164k certificates.
• The 2020 target is 6,500,000.
• This means in total, the scheme needs to be create 6,336,229 VEECs between today and the end of 2020. (83 creation weeks)
• To achieve the 2020 target we need to average 76k certificates per week.
• Average creation for 2019 to this point has been 76k VEECs/week.
• Current 3-week average is 117k 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.

Results

In the week ending 2^nd June 2019, VEEC creation was as follows:

• 95,616 down 31% compared to the previous week’s creation of 138,195.
• The average for the last 3 weeks is now 117,183.
• Commercial Lighting contributed 33,064 (34%) compared to 64,367 (47%) the previous week.
• Updated 21A contributed 42,824 VEECs (45%) created compared to 39,964 VEECs (28%) the week before.
• The VEEC spot price was $20.70 COB Friday, down $0.30 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.