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Reporting liability

06 February 2017

Renewable Energy Target obligation deadline approaching

​We are fast approaching the 14 February 2017 deadline, when all liable entities must meet their Renewable Energy Target obligations for 2016. We want to take this opportunity to confirm the requirements that liable entities must meet to comply with the law.

Read our news item The Clean Energy Regulator expects liable entities to honour their renewable energy obligations.

Liable entities are required to report on their activities annually under the Renewable Energy Target.

All liable entities that make acquisitions of electricity in a year must lodge an energy acquisition statement.

Liable entities must also lodge amendments to the preceding energy acquisition statement where information has changed—this may be as a result of final settlement data. Liable entities can also surrender additional small-scale technology certificates (STCs) and large-scale generation certificates (LGCs) along with the submission of an amended energy acquisition statement to acquit the increased certificate liability.

Energy acquisition statements

Energy acquisition statements are completed in the REC Registry and must be submitted on or before 14 February each year. Large-scale generation certificates and quarter four small-scale technology certificates are surrendered at the same time.

Energy acquisition statements require information to be submitted about the:

  • amount of liable electricity acquired, in megawatt hours
  • type of acquisition, either wholesale or notional wholesale, as well as a description of the acquisition
  • network the acquisition took place in
  • period of acquisition that is being reported, and
  • liability point.

The purpose of energy acquisition statements is to advise the Clean Energy Regulator about:

  • the company representatives lodging the statement
  • all relevant electricity acquisitions made by the liable entity
  • any exemption certificates that the liable entity is entitled to use
  • large-scale generation certificate liability and small-scale technology certificate liability, and
  • relevant legal declarations.

If liable entities do not surrender certificates, or do not surrender the required amount of certificates, they must complete a large-scale generation shortfall statement or small-scale technology shortfall statement (which is incorporated into their energy acquisition statement).

Amending energy acquisition statements

Liable entities who wish to lodge an amendment to the preceding energy acquisition statement must do so within 12 months of lodging their original energy acquisition statement. These are completed at the same time the current energy acquisitions statement is being lodged.​

Amended energy acquisition statements should be submitted in conjunction with large-scale generation shortfall statements and small-scale technology shortfall statements if required. All statements are completed in the REC Registry.

Liable entities who wish to report amendments to a statement lodged more than 12 months ago need to contact the Clean Energy Regulator in writing. The Clean Energy Regulator can make amendments within four years of the initial energy acquisition statement being lodged. In doing so, the Clean Energy Regulator may assess certificate shortfalls and any applicable charges if required.

To surrender certificates with the lodgement of an energy acquisition statement, liable entities will need to ensure the certificates were created in the REC Registry in the year the electricity was acquired (or earlier years where applicable). This means that if a liable entity lodges the 2016 energy acquisition statement due in February 2017, both large-scale generation certificates and small-scale technology certificates must have been created between 2001 and 2016. Certificates created in 2017 cannot be used to meet certificate liability for the 2016 assessment year.
Liable entities can only surrender certificates that were created in the assessment year or earlier. This is referred to as the vintage rule.

What if a liable entity doesn'​​t report?​

There are a range of options available in circumstances where a liable entity does not meet their reporting obligations. Liable entities should contact the Clean Energy R​egulator ​as soon as practical if they become aware of a failure to report or if they are unsure of their reporting obligations. ​

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