by Michele Muscillo
On 26 February 2010, the Rudd Government announced that it would
divide the renewable energy certificates market into two separate
markets - a small scale market and a large scale market.
This article provides a brief explanation of the
Government's rationale behind this decision, and an overview of
the renewable energy certificates market.
Renewable energy targets
The Rudd Government's carbon policy is based on four
distinct elements:
- The Carbon Pollution Reduction Scheme;
- Carbon capture and storage;
- Action on energy efficiency; and
- Expansion of the Howard Government's renewable energy
target.
The fourth element, the renewable energy target, was created by
the Howard Government through the Renewable Energy
(Electricity) Act 2000 and the Renewable Energy
(Electricity) (Charge) Act 2000. The Howard Government also
created the Office of the Renewable Energy Regulatory, which
oversees the administration of this legislation,
