Posted by: Grant | August 26, 2011

Don’t Forget The RET

Q. How come your power bill is going up and up already when the carbon tax hasn’t even started?
A. RET – Renewable Energy Target. (there are other factors too of course)

Electricity providers are required to to purchase RECs – renewable energy certificates. They then pass this on to the battlers in the mortgage belt.

 

 
Fact sheet: Enhanced Renewable Energy Target
http://www.climatechange.gov.au/en/government/initiatives/renewable-target/fs-enhanced-ret.aspx

“Introduction

On 24 June 2010 the Commonwealth Parliament passed legislation to separate the Renewable Energy Target (RET) into two parts from 1 January 2011 – the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).

Liable entities will need to meet obligations under both the SRES and LRET by acquiring and surrendering renewable energy certificates created from both large and small‑scale renewable energy technologies.”

And if you are a “Liable Entity”?

Liable Entities Guide
http://www.orer.gov.au/liable-entities/index.html

Obligations and reporting under the LRET and SRES

Overview

From 1 January 2011 the Renewable Energy Target was split into the Large-scale Renewable Energy Target (LRET) and Small-scale Renewable Energy Scheme (SRES). Renewable energy certificates will be classified as large-scale generation certificates (LGCs) and small-scale technology certificates (STCs). Under the Renewable Energy (Electricity) Act 2000 (the Act), liable entities making wholesale acquisitions of electricity (relevant acquisitions) are required to demonstrate that they support:

the generation of large-scale renewable electricity projects by purchasing LGCs to achieve the Large-scale Renewable Energy Target (LRET).  Liable entities demonstrate compliance by surrendering LGCs to the Office of the Renewable Energy Regulator (ORER) annually between 1 January and 14 February for the previous calendar year (compliance year); and

the small-scale technology industry (solar water heaters and small generation units), by purchasing STCs to meet liability for the Small-scale Renewable Energy Scheme (SRES).  Liable entities demonstrate compliance by surrendering STCs to the ORER on a quarterly basis.

Most of your money goes to rich middle class trendies who can afford solar panels and batteries. The rest goes to windfarms which are just a nuisance to the baseload suppliers.

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