Small-scale certificates surrendered against 2015 liability:
In 2015, 20 329 145 small-scale technology certificates were surrendered to meet Small-scale Renewable Energy Scheme liability.
Liable entities had a 99.99 per cent compliance surrender rate for surrendering small-scale certificates. Based on submitted reports, there were 72 liable entities with an accumulated carried-forward surplus of 688 235 small-scale technology certificates (which can be used to acquit future quarterly small-scale technology certificate liabilities). This surplus does not include the surplus of 1 305 small-scale technology certificates attributed to four liable entities that are no longer liable.
One liable entity was found to have a total shortfall of four small-scale technology certificates. This entity was required to pay the shortfall charge because there is no provision to allow entities to carry forward small-scale technology certificate shortfalls.
The method to determine the amount of small-scale certificates to be surrendered for quarters one to three depend on the circumstances for the surrender, and is laid out in sections 38AF, 38AG, 38AH and section 40C of the Act.
"PAYING THE RENEWABLE ENERGY SHORTFALL CHARGE, RATHER THAN SURRENDERING CERTIFICATES, IS NONCOMPLIANCE WITH THE LARGE-SCALE RENEWABLE ENERGY TARGET."
22 This is calculated based on annual reporting for the year, not quarterly surrender requirements.
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