28 August 2009

REC revisions, in a nutshell - 20 August 2009

Authors: Fiona Melville

On 20 August 2009 a Bill to amend the Renewable Energy (Electricity) Act 2000 (Cth) (REC Act) was finally passed after much political positioning and trade offs. The REC target has increased, but emission intensive trade exposed activities are exempt. Waste coal mine gas is included as an ‘eligible energy source’ despite it being neither ‘renewable’ nor ‘zero emission’ The scheme now runs to 2030 but is merged with the Victorian VREC scheme. Failure to buy sufficient RECs will result in a tax adjusted shortfall charge of $92.85 as compared with $57.14. All of these changes are likely to significantly increase the REC price over the coming decade and provide a much needed boost for the renewable energy industry. See attached article. For the full version of the article see the PDF at the bottom of this page. Media contacts: Peter Slattery, Managing Partner Phone. +61 8 8239 7114 Mobile. +61 419 819 348 Email. peter.slattery@jws.com.au

Download: REC revisions, in a nutshell - Aug 09.pdf (77 Kb)

< return to news & media