A Bill for an Act to amend the Renewable Energy (Electricity) Act 2000 in relation to certificates, and for other purposes
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Renewable Energy (Certificates and Other Matters) Amendment Act 2009.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
| Commencement information |
| Column 1 | Column 2 | Column 3 |
| Provision(s) | Commencement | Date/Details |
| 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day on which this Act receives the Royal Assent. | |
| 2. Schedules 1 and 2 | The 28th day after the day on which this Act receives the Royal Assent. | |
Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Value of renewable energy certificates
Renewable Energy (Electricity) Act 2000
1 Subsection 5(1)
Insert:
adjusted value has the meaning given by subsection 23H(4).
2 Subsection 5(1)
Insert:
market share multiplier has the meaning given by subsection 23H(1) and (2).
3 After paragraph 20(2)(ca)
Insert:
(cb) the number of certificates created during the year in relation to each particular eligible renewable energy source for electricity generated by the power station during the year; and
(cc) the number of certificates created during the year in relation to each particular eligible renewable energy source for electricity generated by the power station during the previous year; and
4 After paragraph 23F(2)(a)
Insert:
(aa) the number of certificates the person created in relation to each particular eligible renewable energy source during the year; and
5 After Subdivision BB of Division 4 of Part 2
Insert:
Subdivision BC—Creation of certificates—other matters
23G Publication of information received in returns
(1) As soon as practicable after the final day for giving a return for a year under sections 20 and 23F, the Regulator must prepare a report showing how many certificates were created in total during the year for each type of eligible renewable energy source.
(2) The report must also include a market share multiplier for each type of eligible renewable energy source.
Note: Section 23H provides for market share multipliers.
(3) As soon as practicable after completing the report, the Regulator must publish the report on his or her website.
23H Calculation of market share multiplier
(1) If, on the basis of returns received under sections 20 and 23F, the total value represented by the certificates created in relation to a particular eligible renewable energy source is equal to or less than 20,000 GWh, then the market share multiplier of that source is 1.
(2) If, on the basis of returns received under sections 20 and 23F, the total value represented by the certificates created in relation to a particular eligible renewable energy source is greater than 20,000 GWh, then the market share multiplier of that source is 20,000 divided by that total value.
(3) The value of certificates created in relation to a particular eligible renewable energy source and surrendered by a liable entity under section 44 must be adjusted in accordance with subsection (4).
(4) The adjusted value of a certificate is 1 MWh multiplied by the market share multiplier for the relevant eligible renewable energy source for that year.
6 Section 38 (method statement, step 3)
Omit step 3, insert:
Step 3. Subtract the total adjusted value, in MWh, of the renewable energy certificates surrendered to the Regulator for that year by the liable entity from the required renewable energy for the year.
7 Application
The amendments made by this Schedule do not apply to the years after 2030.
Schedule 2—Efficient transmission systems
Renewable Energy (Electricity) Act 2000
1 Subsection 5(1)
Insert:
efficient long distance transmission systems has the meaning given by subsection 23J(3).
2 After Subdivision BB of Division 4 of Part 2
Insert:
Subdivision BD—Efficient long distance transmission systems
23I Report on the efficiencies of different systems
(1) At least once every 3 years, the Regulator must prepare a report on:
(a) the relative efficiencies of commercially available long distance transmission systems; and
(b) the circumstances under which these efficiencies apply; and
(c) the strength of the evidence supporting the information provided under paragraph (b).
(2) As soon as practicable after completing a report, the Regulator must publish it on his or her website.
(3) The first report under this section must be prepared within 12 months of the commencement of Schedule 2 of the Renewable Energy (Certificates and Other Matters) Amendment Act 2009.
23J Certificates for the construction of efficient long distance transmission systems
(1) The Regulator may issue certificates for the construction of efficient long distance transmission systems.
(2) A registered person may apply to the Regulator for the issue of certificates for the construction of efficient long distance transmission systems that have been built within 12 months before the commencement of Schedule 2 of the Renewable Energy (Certificates and Other Matters) Amendment Act 2009.
(3) Efficient long distance transmission system has the meaning prescribed by the regulations.
(4) Any regulations made in relation to subsection (3) must reflect the information contained in the most recent report under section 23I.
(5) The regulations must provide for:
(a) the application and issuing process for certificates issued under this section; and
(b) the method, or methods, to be used to calculate the number of certificates to be issued; and
(c) the date of issue of such certificates; and
(d) any other matter necessary to be prescribed to give effect to this section.