Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Renewable Energy (Electricity) Bill 2000

Part 8 Refunding charge

   

95   Refunding charge in later years

             (1)  This Part applies where:

                     (a)  a liable entity has paid renewable energy shortfall charge for a year (the charge year ); and

                     (b)  during the allowable refund period, the liable entity surrenders certificates under this section.

             (2)  The allowable refund period starts immediately after the liable entity lodges the liable entity’s return for the year after the charge year and ends 3 years after the liable entity paid the renewable energy shortfall charge.

             (3)  The liable entity must specify the charge year in respect of which the certificate is being surrendered.

96   Value of certificates surrendered

             (1)  The certificate value for a certificate surrendered under section 95 is equal to the renewable energy shortfall charge payable in respect of 1 MWh in the charge year specified under subsection 95(3).

             (2)  The total of the certificate values of certificates surrendered by a liable entity under section 95 in respect of a year must not exceed the amount of renewable energy shortfall charge for that year.

97   Certificates can only be surrendered if there is no shortfall

                   A liable entity may only surrender certificates under section 95 if, in the year immediately prior to the year in which the certificates are to be surrendered, the liable entity did not have a renewable energy certificate shortfall.

98   Refund of charge where certificates surrendered

             (1)  If a liable entity surrenders certificates under section 95, the Regulator must pay the liable entity the amount worked out using the formula:

where:

administration fee is the amount worked out under the regulations.

             (2)  The total of the certificate values for certificates surrendered by a liable entity under section 95 in respect of a year must not exceed the amount of renewable energy shortfall charge for that year.