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Liable entities are seen to be complying with their legislated obligations set under the
Renewable Energy (Electricity) Act 2000 (the Act) if they:
The Clean Energy Regulator (the agency) validates all energy acquisition statements and conducts audits. Investigations may be undertaken in certain circumstances.
There are a range of options, including penalty charges, in circumstances where a liable entity does not meet their reporting, surrender, and shortfall payment obligations. Liable entities should
contact the agency as soon as practical if they become aware of a failure to report or if they are unsure of their obligations.
There are serious consequences for entities that do not meet their obligations, including significant additional financial penalty charges and interest charges. Failure to lodge statements on time is a criminal offence that may attract penalties.
All shortfall charges must be paid on time; any unpaid shortfall charge will attract interest charges. Where a debt is incurred, we will pursue that debt in accordance with the law, up to and including applications to wind up companies in appropriate cases.
The agency strongly recommends liable entities seek professional and independent advice on their specific circumstances if they do not understand the requirements or believe that they may have difficulty fulfilling their obligations.
Interest applies to shortfall charges and penalty charges that are not paid by the due date. Interest is automatically applied to any large-scale generation shortfall charge, small-scale technology shortfall charge, or penalty charge that is not paid by a liable entity by the due date for the charge. This includes interest applied to unpaid interest charges. The principal amount and any applicable interest must be paid.
Interest is calculated daily by multiplying the unpaid amount by the general interest charge rate for the day (calculated under section 8AAD of the
Taxation Administration Act 1953 and set out on the
Australian Taxation Office’s website).
Penalty charges are incurred where a liable entity has not met its obligations. Circumstances include:
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.