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Key dates for regulated entities

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DateItem
1 July 2025Compliance with the NVES is mandatory.
From September 2025Regulated entities will be able to access the NVES portal, create a NVES unit registry account and appoint authorised users.
31 December 2025

The 2025 performance period will end.

This performance period is from 1 July 2025 to 31 December 2025.

1 January 2026

The 2026 performance period will begin.

This performance period is from 1 January 2026 to 31 December 2026.

February 2026

Entities will receive their interim emissions value (IEV) for the 2025 performance period and any NVES units will be issued.

This is the first year units are issued. 

If an entity's IEV is: 

  • Above zero, the entity has not met the requirement for the performance period.
  • Below zero, the entity has beaten the requirement for the performance period. This means the entity will receive NVES units.
  • Zero, the entity has met the requirement for the performance period. 

For more information see How units are issued.

February/March 2026Publication of 2025 IEVs and unit holdings. 
On 31 December 2026

The 2026 performance period will end.

This performance period is from 1 January 2026 to 31 December 2026.

On 1 January 2027

The 2027 performance period will begin.

This performance period is from 1 January 2027 to 31 December 2027.

February 2027

Entities will receive their IEV for the 2026 performance period and any NVES units will be issued.

If an entity's IEV is: 

  • Above zero, the entity has not met the requirement for the performance period.
  • Below zero, the entity has beaten the requirement for the performance period. This means the entity will receive NVES units.
  • Zero, the entity has met the requirement for the performance period. 

For more information see How units are issued.

February/March 2027Publication of 2026 IEVs and unit holdings. 
On 31 December 2027

The 2027 performance period will end.

This is the last day to extinguish units against a 2025 final emissions value (FEV).

On 1 January 2028

The 2028 performance period will begin.

This performance period is from 1 January 2028 to 31 December 2028.

February 2028

Entities will receive their IEV for the 2027  performance period and NVES units will be issued.

The FEVs for 2025 are determined and infringement notices issued where required.