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ARTICLE · 20 MARCH 2014

Renewable energy targets (RET) drop to 20.35% for 2014

Clayton Utz
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This significant reduction is mostly due to the reduction in excess renewable production overhanging from previous years.

AustraliaEnergy and Natural Resources
Graeme Dennis (Formerly With Clayton Utz)
Graeme Dennis (Formerly With Clayton Utz)
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The renewable energy targets (RET) for 2014, which are the major tool in achieving the legislated large-scale RET of 41,000 GWh of large-scale generation by the year 2020, have been set by the Clean Energy Regulator:

  • The 2014 small-scale technology percentage (STP) is 10.48%.
  • The 2014 renewable power percentage (RPP) is 9.87%.

These total 20.35% of the liable electric power acquisitions made by retailers, and for which retailers either must acquit the relevant certificates, or pay a shortfall charge.

This is a significant reduction from the effective total level of 30.35% that applied in the 2013 regulations, although not an unexpected one, and is mostly due to the reduction in excess renewable production overhanging from previous years.

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