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Renewable Energy Target liability deadline is approaching

07 February 2018

We regularly publish market information about the Renewable Energy Target. Our most recent market update identified that the 2020 Renewable Energy Target will be met, with more than 6500 megawatts of new capacity firmly announced.

Liable entities have an important ongoing role to play in the scheme. Over the years, liable entities have generally complied with their obligations and we expect high rates of compliance to continue in order to support the objectives of the scheme to increase renewable energy generation and reduce carbon emissions from the electricity sector.

By 14 February 2018, all liable entities that made electricity acquisitions during 2017 must comply with their obligations by:

  • lodging an energy acquisition statement through the REC registry which includes (if applicable) your shortfall statement, and
  • surrendering large-scale generation certificates (LGCs) and quarter four small-scale technology certificates.

There will be adequate LGCs in the market to meet all 2017 surrender obligations with around 32 million LGCs registered with a 2017 or earlier vintage in REC Registry accounts by 14 February 2018. For LGCs, liable entities ma​​y carry forward less than 10 per cent of their liability for a particular year without incurring a shortfall charge. Shortfall charges apply in all other circumstances where a liable entity does not surrender sufficient certificates.

  • Note: if you are required to pay a shortfall charge, the funds must be received by the Clean Energy Regulator no later than 14 February 2018. The agency will commence debt recovery activities for liable entities who do not pay shortfall charges by this date.

Liable entities that do not intend to surrender the full required amount of certificates should contact us as soon as possible.

Further information

For more information about meeting your obligations, please see Scheme compliance.

All liable entities that have a certificate surrender shortfall will be published on our website and in our annual statement to Parliament.


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