Renewable Electricity Targets - Surrender of Certificates
22 March 2002
Media release
Today the Renewable Energy Regulator, Mr David Rossiter, released information on the first year of certificate surrender under the Renewable Energy (Electricity) Act.
"Over 314,800 certificates were surrendered to the Regulator for 2001, the first year of operation of the Act. Certificates had to be surrendered by 14 February 2002 for the 2001 year", Mr Rossiter said.
"The 2001 target was 300,000 certificates and it would appear that the level of compliance with the Act has been very high. This is a great achievement by the industry and clearly shows how well the industry has developed and adapted to the tradeable certificate approach permitted under the Act.
"We expect the statements to be finalised by mid 2002. As permitted under the Act any under or over achievement towards the 2001 target can be adjusted for in future annual renewable power percentages.
"Due to timing issues the renewable power percentage has been set for 2002 at 0.62% and any adjustment for 2001 will be made in 2003's renewable power percentage", said Mr Rossiter
"We have also received most of the annual energy returns from the renewable energy generators who create the certificates. These returns enable us to draw off a line at the end of 2001 and fully account for all energy generated in the year.
Since the scheme began on 1 April 2001 baselines have been set for 89 power plants. These baselines represent the amount of renewable energy that was being generated by the accredited power plants in 1997. The sum of the baselines of power stations accredited to date is 16,005 GWh. For a given power plant the baseline represents the energy levels above which renewable energy certificates can be claimed. Power plants first generating electricity on or after 1 January 1997 normally have a zero baseline.
As part of the ongoing operation of the Regulations some administrative amendments to the Regulations were tabled in Parliament on 20 March 2002. They cover matters such as additional solar water heater models, the renewable power percentage for 2002 and extension of the grace period for solar water heaters to meet the Australian Standard AS2712.
Further details on accredited power plants, applications and certificates are accessible at www.rec-registry.com , in accordance with the requirements of the Act.
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