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AEAS and RESS liability and assessment–SRES

 

By 31 December 2012, a total of 28,187,379 STCs were accepted for surrender against the 2011 compliance period and banked against future liabilities. STCs which have been accepted for surrender against future liabilities are carried forward surplus STCs. The carried forward surplus STCs can be used by relevant liable entities to discharge their liability for future compliance periods on a quarterly basis.

For the 2011 compliance year, there were 86 liable entities that lodged an AEAS and RESS by 14 February 2012. This represents four liable entities with a total shortfall of 19,867 STCs. All were required to pay the STSC due to STC legislative requirements unlike LGC legislative requirements that allows a 10 per cent buffer. There is no buffer for STC shortfalls. For more information about STC shortfalls.1 Overall liable entities had a 99.93 per cent STC compliance surrender rate.

For the 2011 compliance year, there was 214,208,303.1 MWh of relevant acquisitions of electricity and 27,187,757.4 MWh of partial exemptions had been reported resulting in a reduced relevant acquisition amount of 187,020,545.7 MWh. This resulted in a STC liability of 27,679,041.2 For STC surrender details see Table 10.

                       

Table 10: Summary of certificate surrender for the 2011 compliance period as at 31 December 2012 compared to the target

Compliance year Interim target STCs surrender
2011 28,000,000
28,187,379
2011 STCs surrendered against future liability N/A 508,334
2011 STC LGSC shortfall N/A 19,867

Graph 10: STCs accepted to discharge a mandatory liability

Graph 10: STCs accepted to discharge a mandatory liability
Year Required number of STCs (Target in MWh) STCs accepted to discharge liabilities under the Act
2011 28,000,000 28,187,379

Graph 11: LGCs accepted to discharge a mandatory liability

Graph 11: LGCs accepted to discharge a mandatory liability
Year Renewable Energy Target in MWh LGCs accepted to discharge liabilities under the Act
2001 300,000 336084
2002 1,100,000 1178702
2003 1,800,000 1725039
2004 2,600,000 2520800
2005 3,400,000 3313485
2006 4,500,000 4318985
2007 5,600,000 5783013
2008 6,800,000 6913963
2009 8,100,000 7836085
2010 12,500,000 12454953
2011 10,400,000 10569483

1 List of STC shortfalls.

2 The sum of individual MWh liability may produce a total liability greater or lesser than the liability calculated by multiplying total reduced relevant acquisitions by the 2011 Small-scale Technology Percentage (STP). This is due to the rounding of individual STC liabilities to whole STC liabilities.

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