Large-scale generation certificate spot prices, supply and demand dynamics as well as liability shortfall are discussed in relation to the outlook from now to 2020. The availability of certificates and the price paid reflects the efficient functioning of the market.
On balance the indicators highlight that the appropriate signals have been provided to the market and these are eliciting the required response. The slow start to new project announcements means that certificate supply will be tighter. This is reflected in the high spot price, which then incentivises more project commitments. This in turn should improve the outlook for supply and help moderate certificate prices in time. The 2020 Renewable Energy Target can still be met even if certificate spot prices remain high along the way.
The majority of electricity retailers fully surrendered large-scale generation certificates.
Two large retailers chose to pay the shortfall charge for a material amount citing the high spot price.
Those that planned ahead and have contracts to obtain the required certificates are unlikely to have been affected by the high spot price.
39 Large-scale generation certificate closing rates,
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