Energy Mad Limited advises that the market price of a VEET scheme certificate in Australia (Energy Mad's key market) has dropped from around AU$30 per certificate to around AU$14 (this price fluctuates based on market demand/supply).
While the Board expects the price of the VEET scheme certificates to recover, the timing of such a recovery is impossible to predict. As VEET scheme certificates are a key driver of Energy Mad's sales, a drop of this size is likely to negatively affect Energy Mad's sales volumes, though by how much is uncertain at this stage.
Further announcements will be made as the effect of the price drop becomes apparent.
ENDS
For more information contact: Chris Mardon
Director of Marketing (021) 041 2981
Energy Mad Limited published this content on 27 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 September 2016 04:10:09 UTC.
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