Australian regulator ready to investigate RET incompliance

Peoplesclimate protest in Melbourne. Author: Takver. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

Feb 6 (Renewables Now) - The deadline for meeting 2016 Renewable Energy Target (RET) obligations in Australia is approaching and the Clean Energy Regulator (CER) warns it would investigate all cases of intentional failure to do so.

In a statement today, the government body reminded that “intentional failure to surrender certificates will be viewed as a failure to comply with the spirit of the law and an undermining of the objectives and integrity of the scheme.” CER said it is authorised to conduct audits if necessary.

By February 14 all liable entities must meet their RET obligation by surrendering large-scale renewable energy generation certificates and small-scale technology certificates, or pay a penalty. Several weeks ago it was announced that ERM Power (ASX:EPW), a major electricity retailer in Australia, prefers to pay a fine amounting to AUD 123 million (USD 94m/EUR 87m) instead of supporting renewable energy generation through the certificates scheme.

“We understand from brokers that there are sufficient certificates available in the market and that orders from very small to very large can be serviced,” CER said.

With the RET Australia aims to reach 33,000 GWh of renewable power in 2020. Till then annual targets increase gradually.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for seven years now. She's got a soft spot for emerging markets.

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