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Managing energy costs

Support available for Victorian businesses

On this page

  • What kind of support is available to your business?
  • Business improvement programs that address energy cost pressures
  • Invest Victoria contact details

A man and woman wearing high visbility vests inspect a lumber yard

The Victorian Government is committed to supporting businesses to grow and prosper. This includes providing support to help manage the risks and uncertainty of changes in gas and electricity prices.

In the 2017/18 Budget, the Victorian Government allocated additional funding to help create and retain jobs, including support to assist businesses that are particularly vulnerable to energy market volatility.

Call 13 22 15 to connect with a local industry investment facilitation specialist to discuss your specific situation if your business:

  • is a major energy user
  • has experienced a large increase in the price of your energy contract(s)
  • employs a significant number of workers.

Investment facilitation specialists will work with you to understand the effects on your business and explore industry assistance options, including potential funding support and tailored assistance to help identify a sustainable solution.

Support and funding packages will be tailored to specific projects, incorporating existing programs and services wherever possible to maximise the value of outcomes. This may include:

  • managing and reducing energy costs by increasing energy efficiency
  • implementing alternative sources of energy
    • and/or
  • purchasing new equipment that enhances productivity to offset energy costs.

Business improvement programs – helping to address energy cost pressures

Boosting Business Productivity program supports businesses to cut energy and materials costs, reduce greenhouse emissions and improve energy productivity, The Program includes grants for businesses, a sustainable finance service, various training, events and information resources. 

Grants under this program are available for businesses:

  • seeking advice on energy efficiency improvements – Energy Assessment Grants
  • capital support to reduce gas costs – Gas Efficiency Grants
  • manufacturers to reduce waste – Materials Efficiency Grants.

Victorian Energy Upgrades helps businesses with their energy costs – providing discounts on a wide range of energy-saving products supplied through accredited providers.

Better Commercial Buildings program supports owners of commercial buildings and tenancies (including offices, hotels, retail and data centres) to identify and implement energy efficiency upgrades that lead to improved building performance.

Sustainable Finance Service is a free financial facilitation service offered by Sustainability Victoria to all businesses, property owners, councils and community groups seeking to invest in energy efficiency and renewable energy.

New Energy Jobs Fund is a competitive grant program to support Victorian based new energy technology projects. This may include

  • renewable energy generation projects
  • renewable heating and cooling projects
  • transport projects
  • projects incorporating demand management technologies.

Future Industries Fund Manufacturing Program provides up to $500,000 to companies to implement new manufacturing technologies and processes in their Victorian operations. Businesses can decrease their energy use per unit of output as a result of acquiring state-of-the-art manufacturing capability.

Future Industries Fund Sector Growth Program provides grant funding for projects that drive growth, productivity and competitiveness. This program could support a group of businesses looking to investigate a shared infrastructure solution that would assist in managing energy costs.

Local Industry Fund for Transition provides grants of up to 25 percent of up to $2 million to businesses creating jobs suitable for former automotive workers in four geographical areas of Geelong, Melbourne's North, Melbourne's South East, and Melbourne's West. This could help fund energy reduction initiatives to retain and/or create jobs.

Regional Jobs Fund – Innovation and Productivity Stream can provide support to rural and regional businesses, including funding innovative solutions or equipment upgrades that reduce energy costs and create and/or retain jobs.

Victorian Energy Compare is an independent online price comparison tool for the range of energy retailers and offers available. Businesses consuming under 40 megawatt hours annually and who have access to 12 months of their smart meter consumption data can use Victorian Energy Compare.  

Invest Victoria provides support and advice to businesses looking to invest and re-invest in Victoria and is ready to work with large-scale energy users. 

If you'd like to know more, give Invest Victoria a call on 9651 8100, or call us at Business Victoria on 13 22 15.