Office of the Renewable Energy Regulator Financial Annual Report 2006-07
Office of the Renewable Energy Regulator, 2007
ISSN 1832-1429
PDF file
About the document
The Office of the Renewable Energy Regulator (ORER) is a statutory agency under the Environment and Heritage portfolio, established to administer the Government’s Renewable Energy (Electricity) Act 2000 (the Act), the Renewable Energy (Electricity) (Charge) Act 2000 (the Charges Act) and the associated regulations. In combination, this package of legislation and regulation establishes the framework for the Mandatory Renewable Energy Target (MRET).
The MRET is designed to increase the contribution of renewable energy sources to Australia’s electricity supplies. It operates by imposing a legal liability to source renewable energy on, generally, large wholesale purchasers of electricity. An example of a liable party under the legislation would be an electricity retailer purchasing wholesale electricity to meet retail sales obligations to customers.
The legislation also establishes rules for the participation of renewable energy generators who can create renewable energy certificates (RECs). These RECs can be traded to the liable parties to meet their individual targets.
The demand for RECs from the liable parties is met by supply from eligible parties to establish a guaranteed market for renewable energy in Australia.
The ORER administers the legislation by administering the ‘entry’ (or eligibility) rules and ‘exit’ (or liability) rules for the scheme. The arrangements surrounding transfer of RECs between the two parties occurs in a marketplace separate to the ORER.
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