Modelling the price of Renewable Energy Certificates under the Mandatory Renewable Energy Target
Report to Office of the Renewable Energy Regulator
McLennan Magasanik Associates Pty Ltd, 29 October 2002
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About the document
The Mandatory Renewable Energy Target (MRET) Scheme is designed to encourage additional renewable energy generation and to reduce greenhouse gas emissions. So far, at least 1,500 GWh of additional renewable generation has occurred, compared with a cumulative target of 1,400 GWh for the first two years of the Scheme.
As the Scheme has been in operation for about 18 months, the Office of the Renewable Energy Regulator decided to undertake a study to review developments in the renewable energy market and their potential impacts on future prices of renewable energy certificates.
The objectives of the study are to:
- Review operation of the market for renewable energy certificates.
- Identify key factors affecting market prices.
- Update projections of renewable certificate prices.
- Project the likely composition of renewable generation.
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