The Renewable Energy Target is an Australian Government scheme designed to reduce emissions of greenhouse gases in the electricity sector and encourage the additional generation of electricity from sustainable and renewable sources.
The Clean Energy Regulator administers the Renewable Energy Target's two schemes: the Large-scale Renewable Energy Target and the Small-scale Renewable Energy Scheme.
ERM Power have today announced that they will pay $123 million in shortfall charges rather than meet their full obligation to surrender large-scale generation certificates under the Renewable Energy Target.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.