70Conditions under which energy savings scheme targets may be changed

70 Conditions under which energy savings scheme targets may be changed

70 Conditions under which energy savings scheme targets may be changed

(1) For 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—

(i) the number of certificates created in that year, and

(ii) the 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 prescribed total exceeded, by at least 20%, the number of certificates required to meet all individual energy savings targets in the year.

(2) For subsection (1), an energy savings certificate created under an approved corresponding scheme that is unable to be surrendered by a scheme participant to meet the participant’s individual energy savings target or to remedy a carried forward shortfall must be disregarded.

(3) In this section—

prescribed total means the sum of—

(a) the total number of certificates created in the relevant year, and

(b) the total number of certificates created in the previous year and not surrendered by the beginning of the relevant year.