How are we tracking?
Liability compliance in 2015:
- 99.7% compliance with certificate surrender obligations.
Liable entities
Liable entities are wholesale purchasers of electricity, mainly electricity retailers. They are the first to acquire electricity in a grid with an installed capacity of 100 megawatts or more.
To acquit their liability under the Renewable Energy Target, liable entities need to:
- lodge an energy acquisition statement and renewable energy shortfall statement (for the previous calendar year), on or before 14 February, and
- surrender enough large-scale generation certificates and small-scale technology certificates to meet their liability—in proportion to the amount of electricity they acquired during the year. If they don't surrender enough certificates they need to pay a shortfall charge of $65 for each certificate not surrendered.
The obligation for liable entities to surrender renewable energy certificates creates demand in the market.