The objects of this Act are: Legislation, Standards and Codes may be linked to one or more of the University's compliance frameworks either as the driver of the requirements, or as a component of the framework. The relevant frameworks are listed below.Renewable Energy (Electricity) Act 2000 (Cth) - Level 3
(a) to encourage the additional generation of electricity from renewable sources; and
(b) to reduce emissions of greenhouse gases in the electricity sector; and
(c) to ensure that renewable energy sources are ecologically sustainable; and
(d) to contribute to the achievement of Australia’s greenhouse gas emissions reduction targets.
This is done through the issuing of certificates for the generation of electricity using eligible renewable energy sources and requiring certain purchasers (called liable entities) to surrender a specified number of certificates for the electricity that they acquire during a year.
Where a liable entity does not have enough certificates to surrender, the liable entity will have to pay renewable energy shortfall charge.
An exemption relating to one or more emissionsâ€'intensive tradeâ€'exposed activities may be taken into account in working out a liable entity’s renewable energy certificate shortfall for a year. If it is, it will reduce the renewable energy shortfall charge otherwise payable.Relevant Compliance Frameworks
Summary