A detailed policy, administrative, and
technical analysis and road map, of the impact of policy changes to a regulator's operational readiness.
Client: Essential Services Commission Victoria
The Essential Services Commission (ESC) Victoria is the regulator for the Victorian Energy Efficiency Target (VEET) emissions trading scheme, devised by the Victorian Government.
When the government proposed introducing project-based assessment methods ESC commissioned Common Capital to provide high-level expert advice on how the changes would impact their role as regulator so that they could prepare business processes ahead of the changes being implemented.
The ESC commissioned Common Capital to provide high-level expert advice on the likely technical, administrative, training, and auditing issues, and the associated risks, arising from the introduction of project based assessment methods in the VEET.
The project involved a review of all the current project based methodologies in place in Australian energy efficiency schemes, and a comprehensive assessment of the ESC’s current capabilities and gaps in the administration of such methods.
Common Capital made a series of recommendations for the ESC to implement if project-based methods are incorporated within the VEET, covering: technical aspects of scheme administration; audit and assurance processes and capacity; organisational and administrative capabilities; education and training capabilities and risk management.
The advice provided allowed ESC to identify and mitigate potential issues, allowing for a smooth implementation of the policy changes.