Under the Renewable Energy Target, relevant acquisitions refer to the purchase of electricity made by a company. Companies who are liable under the Renewable Energy Target must report all relevant acquisitions they make on an annual basis—through the submission of an energy acquisition statement or renewable energy shortfall statement. In some instances, liable entities may be exempt from reporting relevant acquisitions. If certain conditions are met, this could mean that an entire electricity network (grid) could be exempt from reporting.
There are two types of relevant acquisitions: wholesale acquisitions or notional wholesale acquisitions.
Under section 32 of the
Renewable Energy (Electricity) Act 2000, wholesale acquisitions include purchases of electricity:
Wholesale acquisitions do not apply as a relevant acquisition when the end user has acquired electricity directly from the person who generated it. In this case a notional wholesale acquisition would apply.
If a purchase of electricity has been identified as a wholesale acquisition, then no other types of acquisitions can apply.
Renewable Energy (Electricity) Act 2000 (the Act), notional wholesale acquisitions are purchases of electricity made by the same legal entity where they:
Section 33 of the Act prescribes two situations where a notional wholesale acquisition of electricity takes place:
In both cases, the person who generated the electricity acts as both the notional generator and the notional wholesaler. This means that the notional wholesaler acquired the electricity from the notional generator at the time that the end user acquired the electricity.
Renewable Energy (Electricity) Regulations 2001 (the Regulations), liable entities typically calculate the amount of acquired electricity for all relevant acquisitions at the:
Under regulation 21 of the Regulations, the amount of acquired electricity is calculated in one of several ways, if the electricity is:
If (a) to (d) above does not apply, liable entities are required to use a method of calculation to be chosen by the Clean Energy Regulator after consultation with the liable entity using the amount of metered or calculated electricity:
Liable entities may be exempt when they are both the liable entity and legal entity, and:
Section 31(2) of the
Renewable Energy (Electricity) Act 2000 prescribes that an acquisition is not a relevant acquisition if:
For some networks (grids) relevant acquisitions do not apply. This includes if:
For more information refer section 31(2)(a) and section 31(3)
Renewable Energy (Electricity) Act 2000 .
Renewable Energy (Electricity) Regulations 2001 , regulation 22 defines the capacity of a grid as the sum of all installed electricity generation capacity, excluding:
A person who owns, operates or controls a grid must also provide the Clean Energy Regulator a statement within 28 days of the following changes:
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.