On 21 March 2013, the Australian Government released its response to the Climate Change Authority’s review of the Renewable Energy Target in which it endorsed a majority of the recommendations including:
- to change the frequency of full reviews from every 2 years to every 4 years in order to strike a balance between flexibility in the scheme and policy stability for investors and other stakeholders; and
- to maintain the existing Large-scale Renewable Energy Target of 41,000GWh and interim targets in their current form.
In addition, the Government confirmed that it would consult further with industry on the following issues:
- designing an “opt-in scheme” for large electricity users; and
- making Partial Exemption Certificates tradeable.
Please click here for a copy of the Governments Response.