Commonwealth Consolidated Regulations

RENEWABLE ENERGY (ELECTRICITY) REGULATIONS 2001 - REG 22Z

         (1)   This Division is made for paragraph 46B (1) (a) of the Act and prescribes the method for calculating the amount of a liable entity's partial exemption for a year in relation to an emissions-intensive trade-exposed activity and site mentioned in an application under subsection 46A (1) of the Act.

         (2)   For the purpose of calculating the liable entity's partial exemption in respect of the emissions-intensive trade-exposed activity, Divisions 2 and 3 of a Part in Schedule 6 set out, respectively:

                (a)    whether the activity is:

                          (i)    highly emissions-intensive; or

                         (ii)    moderately emissions-intensive; and

               (b)    the electricity baseline for calculating the amount of the liable entity's partial exemption in respect of the activity.

         (3)   Subdivision B sets out the method for calculating the amount of the liable entity's partial exemption. Subregulation 22ZA (1) contains the formula for the calculation.

         (4)   Subdivision C sets out matters relating to ASP , a factor in the formula.

         (5)   Subdivision D sets out matters relating to G , a factor in the formula.

         (6)   Subdivision E sets out the method for calculating the amount of a partial exemption where the applicant is a prescribed person because of regulation 22L or 22M.

         (7)   Subdivision F requires the Regulator to estimate and publish the weighted average market price for a REC or LGC (see regulation 22ZH).