65Renewable power percentage

65 Renewable power percentage

(1) The Governor in Council, by Order published in the Government Gazette, may fix the renewable power percentage in respect of a year.

(2) In determining the renewable power percentage in respect of a year, the Governor in Council must have regard to the scheme acquisitions by each relevant entity in the previous year and the required GWh of electricity from eligible renewable energy sources for that year.

(3) An Order under subsection (1) fixing the renewable power percentage for a year must be made on or before 31 May of that year.

(4) If a renewable power percentage is not fixed by Order for a year, the percentage for that year is—

(a) for the year commencing on 1 January 2007—0%; and

(b) for any later year—the rate worked out using the following formula—

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