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2008
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA
SENATE
Renewable Energy Legislation Amendment (Renewable Power Percentage) Bill
2008
EXPLANATORY MEMORANDUM
(Circulated by authority of Senator Lyn Allison)
GENERAL OUTLINE
The purpose of the Renewable Energy Legislation Amendment (Renewable Power
Percentage) Bill 2008 is to amend the Renewable Energy (Electricity)
Regulations 2001.
The purpose of this Bill is to expand the interim targets from 2008. The
expanded targets are in line with the Government's election policy.
However the administrative process and timeframe announced in December 2007
means that the targets will not be expanded until 2010, resulting in the
renewable energy industry stalling and the capacity and continuity of the
renewable energy industry put at risk.
Expanding the Mandatory Renewable Energy Target (MRET) from 2008 will
create certainty and a stable investment environment for the ongoing
development of renewable energy industry.
The proposed targets contained in this Bill will deliver additional
greenhouse emissions abatement of 30 million tonnes above business as usual
by 2010.
Schedule 1-Amendment of the Renewable Energy (Electricity) Regulations 2001
The amendment proposed in this schedule is to expand the target by
increasing the renewable energy power percentages for the period commencing
1 January 2008 and ending 31 December 2020.
The annual renewable energy power percentage and the corresponding GWh
target is outlined in the following table.
|Year |Regulate|GWh |
| |d REPP |Target |
|2008 |3.22% |7,300 |
|2009 |3.98% |9,300 |
|2010 |4.60% |11,000 |
|2011 |5.30% |13,000 |
|2012 |6.56% |16,500 |
|2013 |7.71% |20,000 |
|2014 |8.80% |23,500 |
|2015 |9.86% |27,000 |
|2016 |10.85% |30,500 |
|2017 |11.79% |34,000 |
|2018 |12.83% |37,500 |
|2019 |13.83% |41,000 |
|2020 |15.0% |45,000 |