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Australia, Environmental & Energy, Renewable Energy (Electricity) Amendment Bill 2008 – Clayton Utz – 12/02/2009, Environmental Law, Oil, Gas & Electricity

Australia: Renewable Energy (Electricity) Amendment Bill 2008 mondaq.com  12 February 2009Article by Dan Howard and Martin AylwardKey Point * The MRET scheme will increase to ensure that 20 percent of Australia’s electricity is sourced from Renewable Energy by 2020The Commonwealth Government’s commitment to expand renewable energy to 20 percent of Australia’s electricity supply is in the process of being implemented through the release of the Renewable Energy (Electricity) Amendment Bill 2008 exposure draft. The increase in the national target will coincide with the phase-out of a number of state-based schemes also designed to increase renewable energy capacity.The Bill will amend the Mandatory Renewable Energy Target of 2001 (MRET) by significantly increasing the renewable energy target (RET), starting from the year 2010. The scheme aims to increase the new renewable energy supply from a target of 9,500 GWh to 45,000 GWh in 2020. The expanded scheme will now expire in 2030 rather than the previous date of 2020. The RET scheme sets annual interim targets that ramp up to 45,000 GWh in 2020, the initial ramp up is slower between 2009 and 2014 and then accelerates to 2020. From 2024 to 2030 the scheme targets reduce to 23,000 GWh when the scheme terminates.

Australia, Environmental & Energy, Renewable Energy (Electricity) Amendment Bill 2008 – Clayton Utz – 12/02/2009, Environmental Law, Oil, Gas & Electricity

February 13, 2009 - Posted by Christina Macpherson | Uncategorized