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Financial overview

The agency continued the successful delivery of its schemes in 2016–17 including undertaking the fourth and fifth auctions of the Emissions Reduction Fund. To ensure scheme delivery and to maximise performance the agency maintained its strong focus on budget management and resource allocation.

Highlights from the year include:

Delivered on our schemes

Emissions Reduction Fund

  • recorded $160.8 million in ACCU purchases, and
  • 100% of contract payments made on time.

Renewable Energy Target

  • issued administered clearing house receipts from buyers of $445.9 million
  • administered clearing house payments to sellers of $523.2 million
  • recorded $149.5 million in shortfall charges and interest, and
  • recorded $12.1 million in renewable energy certificate fees.

Delivered within budget

  • operated within our agreed staffing level, and
  • operated within our agreed funding envelope.

Improved our efficiency

  • invested over $2.5 million in our ICT systems to improve efficiency and client experience
    strengthened our internal controls through a targeted review of the REC Registry, and
  • engaged with the whole of government shared services agenda.

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