Glossary
Glossary of terms used in this website.
A
Act
Renewable Energy (Electricity) Act 2000
AEAS
Annual Energy Acquisition Statement.
Agents
Agents are Registered Persons that are able to create certificates on behalf of owners of eligible small-scale installations who have assigned their right to create certificates to the Agent
Assessment year’s reduced acquisitions
Assessment year’s required acquisitions has the meaning given by section 38AA (2) of the Act
B
Baseline
Baselines are determined by the Regulator for accredited power stations. Only renewable electricity generated above the annual baseline is eligible for certificates. A baseline for a power station that first generated electricity on or after 1 January 1997 is zero
C
CEC Accreditation
The Clean Energy Council manages the accreditation of installers of small generation units and is the peak body representing Australia's clean energy sector
Charge Act
Renewable Energy (Electricity) (Charge) Act 2000
E
EGR
Electricity Generation Return
EITE Activity
Emissions-Intensive Trade-Exposed Activity
K
kW
Kilowatt – one thousand watts
kWh
Kilowatt-hour - a measure of electricity generation or use. One thousand watt hours.
L
LCharge Act
Renewable Energy (Electricity) (Large-scale Generation Shortfall Charge) Act 2000. This relates to the LGSC
Liable entity
A wholesale purchaser of electricity with a liability under the RET scheme
LGC
Large-scale Generation Certificate
LGSC
Large-scale Generation Shortfall Charge
LGSS
Large-scale Generation Shortfall Statement
LRET
Large-scale Renewable Energy Target
M
MWh
Megawatt-hour – a measure of electricity generation or use. One thousand kilowatt-hours
P
PEC
Partial Exemption Certificate
Power Station
Renewable energy power stations generating electricity from at least one of the eligible renewable energy sources under Section 17 (1) of the Act. Individuals and companies must be registered before they can seek accreditation of renewable energy power stations and create certificates above the renewable energy power station’s baseline. Power stations must apply to ORER for accreditation in order to participate in the LRET.
Previous year’s reduced acquisitions
Previous year’s reduced acquisitions has the meaning given by section 38AA (3) and (4) of the Act. Note, see also sections 38AF, 38AG and 38AH of the Act
R
Registered Person
A person registered under section 11 of the Act and listed in the Register of Registered Persons. Only a Registered Person is able to create large-scale generation certificates (LGCs) and small-scale technology certificates (STCs)
Regulator created STCs
The Regulator can create small-scale technology certificates if there are no STCs listed on the STC Clearing House
REC
Renewable Energy Certificate. Due to amendments to the Act, RECs were divided into two certificate types and reclassified as large-scale generation certificates (LGCs) and small-scale technology certificates (STCs), effective from 1 January 2011
REC Registry
Internet-based registry system where you create, trade and surrender large-scale generation certificates (LGCs) and small-scale technology certificates (STCs)
Required surrender amount
Required surrender amount has the meaning given by section 38AE of the Act
RET
Renewable Energy Target. Due to amendments to the Act, the RET was divided into two: the Large-scale Renewable Energy Target (LRET) and the Small-scale Renewable Energy Scheme (SRES)
Regulations
Renewable Energy (Electricity) Regulations 2001
RESC
Renewable Energy Shortfall Charge
RESS
Renewable Energy Shortfall Statement
RPP
Renewable Power Percentage
S
SCharge Act
Renewable Energy (Electricity) (Small-scale Technology Shortfall Charge) Act 2010. This relates to the STSC
SGU
Small Generation Unit. SGUs are small-scale solar panel, wind and hydro systems
Small-scale systems
Small-scale systems are solar hot water, heat pumps and small-scale solar panels, wind and hydro systems
SWH/SGU return
Solar water heater and small generation unit return
SRES
Small-scale Renewable Energy Scheme
STC
Small-scale Technology Certificate
STC Clearing House
The STC Clearing House facilitates the exchange of small-scale technology certificates (STCs) between buyers and sellers at the fixed price of $40 (excl. GST)
STP
Small-scale Technology Percentage
STSC
Small-scale Technology Shortfall Charge
STSS
Small-scale Technology Shortfall Statement
SWH
Solar Water Heater. A solar water heater is a system that heats water from solar energy
T
The Act
The Renewable Energy (Electricity) Act 2000
The Amendment Acts
The Renewable Energy (Electricity) Amendment Act 2009 or the Renewable Energy (Electricity) Amendment Act 2010
The Charge Acts
The Renewable Energy (Electricity) (Large-scale Generation Shortfall Charge) Act 2000 or the Renewable Energy (Electricity) (Small-scale Technology Shortfall Charge) Act 2010
The Regulations
The Renewable Energy (Electricity) Regulations 2001
V
Voluntary surrender
Section 28A allows a registered owner to offer certificates for surrender for any reason other than to comply with mandatory liabilities under section 44 or 95. A certificate that is accepted for surrender under section 28A is permanently removed from the certificate market
Last updated Tuesday, 22 November 2011 11:01:19 AM