Large-scale certificates surrendered in against 2015 liability:
In 2015, 19 287 514 large-scale generation certificates were surrendered to meet Large-scale Renewable Energy Target liability. This number is higher than the target surrender amount of 18.9 million large-scale generation certificates set under the renewable power percentage — due to higher than expected reported electricity acquisitions. Other factors, such as the introduction of full exemption from liability for emissions-intensive trade exposed activities, also contributed to this higher certificate surrender.
Liable entities had a 99.4 per cent compliance rate for surrendering these certificates. Based on submitted reports, 40 liable entities had an accumulated carried-forward surplus of 101 90121 large-scale generation certificates (which can be used to acquit future large-scale generation certificate liabilities).
A total of 10 liable entities were found to have a total shortfall of 115 658 large-scale generation certificates. Three liable entities had shortfalls within 10 per cent of their total large-scale generation certificate liability, totalling 47 201 certificates. The Renewable Energy Target allows some flexibility for liable entities to manage their obligations across years. If they surrender certificates within a range of 10 per cent of the required number, the amount not yet surrendered is carried forward and added to their 2016 large-scale generation certificate liability.
Seven liable entities reported a shortfall greater than 10 per cent, which resulted in total shortfall of 115 658 large-scale generation certificates. As at 15 February 2016, not all liable entities had paid their 2015 shortfall charges.
Note: see further information at Appendix C.
21 This does not include a surplus of 443 large-scale generation certificates attributed to five liable entities that are no longer liable.
About The Clean Energy Regulator
Carbon Farming Initiative
Carbon Pricing Mechanism
National Greenhouse And Energy Reporting
Renewable Energy Target
Emissions Reduction Fund
Our Systems And Their Resources
Clean Energy Markets
Data and information
Emissions Reduction Assurance Committee
Subscribe to email updates
Information Publication Scheme
Freedom of Information
The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.