If you purchased electricity in 2019, you must lodge an energy acquisition statement (EAS) in the REC Registry by 14 February 2020. Lodgement and certificate surrender functions are available from 1 January 2020.
Under the Renewable Energy (Electricity) Act 2000, liable entities must lodge an EAS for each year they purchased electricity (made a relevant acquisition). This includes liable entities that have exemption certificates greater than their total relevant acquisitions in a year.
Liable entities have an obligation to accurately report their electricity acquisitions. Guidance on acquisitions, network exemption and reporting rules is available on our website. Ensure you are fully informed of your reporting obligations.
If information reported in the 2018 EAS has changed since it was validated, ensure you also lodge amendments to the 2018 EAS. Amendments can result from changes to Australian Energy Market Operator (AEMO) or AEMO WA final settlement data or revised meter data.
As a liable entity, you must also acquit your 2019 large-scale generation certificate (LGC), and small-scale technology certificate liability by 14 February 2020 by either surrendering certificates or paying the renewable energy shortfall charge.
For LGCs, liable entities may 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 insufficient certificates are surrendered.
If you are intending on paying shortfall charges please ensure you seek tax advice from a tax accountant on the treatment of claiming refunds.
All certificate shortfalls are published on our website and in the Renewable Energy Target Annual Statement to Parliament. Shortfall in any amount also affects a liable entity's ability to claim a refund of previously paid shortfall charges.
If you lodged an EAS for the 2018 assessment year, but did not make relevant acquisitions in 2019, please do not lodge an EAS for the 2019 assessment year. Instead, notify us that you will not be lodging a 2019 EAS.
Please email us explaining that you did not make any relevant acquisitions in 2019, and will not be lodging a 2019 EAS. The email should also state whether you are likely to make relevant acquisitions in future years or if you are ceasing to be a liable entity indefinitely. The Chief Executive Officer of the company or equivalent should send, or be copied into, the email.
Please send the email to RETLiability@cleanenergyregulator.gov.au by 31 January 2020. Contact the RET Liability and EITEs Section on 1300 553 542 or by email if you have any questions.
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