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RENEWABLE ENERGY (ELECTRICITY) ACT 2000 - SECT 40A

Regulations to specify small-scale technology percentage

             (1)  The small-scale technology percentage for a year is the percentage prescribed by the regulations for the purpose of this subsection. The regulations prescribing a percentage for a year must be made on or before 31 March in the year.

             (2)  If the regulations do not prescribe a percentage for the year starting on 1 January 2012 or a later year, the small-scale technology percentage for that year is the rate worked out using the formula:

                  

where:

"certificate value for previous year" is the total value, in MWh, of small-scale technology certificates created in the previous year.

"certificate value for year before previous year" is the total value, in MWh, of small-scale technology certificates created in the year before the previous year.

             (3)  Before the Governor-General makes a regulation under subsection (1) specifying the small-scale technology percentage for a year (the current year ), the Minister must take into consideration:

                     (a)  the estimated value, in MWh, of small-scale technology certificates that will be created in the current year under Subdivisions B and BA of Division 4 of Part 2; and

                     (b)  the amount estimated as the amount of electricity that will be acquired under relevant acquisitions during the current year; and

                     (c)  the amount estimated as the amount of all exemptions that will be claimed for the current year; and

                     (d)  if the current year is the year commencing on 1 January 2012 or a later year:

                              (i)  the amount by which the previous year's estimate under paragraph (a) exceeded, or was exceeded by, the value, in MWh, of small-scale technology certificates that were created in that year under Subdivisions B and BA of Division 4 of Part 2; and

                             (ii)  the amount by which the previous year's estimate under paragraph (b) exceeded, or was exceeded by, the amount of electricity that was acquired under relevant acquisitions during that year; and

                            (iii)  the amount by which the previous year's estimate under paragraph (c) exceeded, or was exceeded by, the amount of exemptions that were claimed for the previous year.

             (4)  If, at the time the Minister takes into consideration the matters referred to in subsection (3), the amount referred to in subparagraph (3)(d)(i), (ii) or (iii) is not known, then the Minister may take into consideration an estimate of that amount instead.

             (5)  A failure to comply with subsection (3) does not affect the validity of the regulations.



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