58AConditions under which energy savings scheme targets may be changed

58A Conditions under which energy savings scheme targets may be changed

58A Conditions under which energy savings scheme targets may be changed

(1) For the purposes of the Act, Schedule 4A, clauses 8(b) and 17(4)(b)—

(a) the evidence of an under supply of energy savings certificates must comprise evidence that, in each of 2 or more consecutive years, the total number of certificates required to meet all individual energy savings targets in the year exceeded, by at least 10%, the sum of the total number of certificates created in that year and the total number of certificates created in a previous year and not surrendered by the beginning of the year, and

(b) the evidence of an over supply of energy savings certificates must comprise evidence that the sum of the total number of certificates created in a year and the total number of certificates created in a previous year and not surrendered by the beginning of the year exceeded, by at least 20%, the total number of certificates required to meet all individual energy savings targets in the year.

(2) For the purposes of subclause (1), any energy savings certificates created under an approved corresponding scheme that are not able to be surrendered by a scheme participant for the purposes of meeting its individual energy savings target or remedying a carried forward shortfall are to be disregarded.

cl 58A: Ins 2015 (750), Sch 1 [11]. Am 2022 (607), Sch 1[51].