Meeting the 2020 RET and opportunities in WA Mark Williamson, - - PowerPoint PPT Presentation

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meeting the 2020 ret and opportunities in wa
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Meeting the 2020 RET and opportunities in WA Mark Williamson, - - PowerPoint PPT Presentation

Feb 10, 2023 166 likes •339 views

Meeting the 2020 RET and opportunities in WA Mark Williamson, Executive General Manager, Clean Energy Regulator Outline whats in this presentation About the Clean Energy Regulator and our purpose Renewables capacity in

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Meeting the 2020 RET and

  • pportunities in WA

Mark Williamson, Executive General Manager, Clean Energy Regulator

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Outline – what’s in this presentation

  • About the Clean Energy Regulator and our purpose
  • Renewables capacity in Australia
  • Progress towards 2020 Large-scale Renewable Energy Target
  • Supply and demand dynamics
  • The prices behind the projects
  • Our compliance position

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Our purpose: accelerating carbon abatement for Australia

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Renewables in Australia – Large-scale

Accredited under the Renewable Energy Target

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Renewables in Australia – Small-scale

Supported by the Renewable Energy Target

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Progress towards the 2020 Large-scale Renewable Energy Target

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  • 6,000 megawatts of new build to be committed by 2018 and built by

2019 to meet the 2020 Large-scale Renewable Energy Target

  • Commitments and build would need to happen early to provide an

adequate supply of large-scale generation certificates along the way.

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Supply and demand dynamics

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Supply and demand dynamics - WA 2016

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Renewables in Australia – Firmly announced

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New projects in Western Australia

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2016 2017

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The prices behind the projects

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LGC Spot Price

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$20.00 $30.00 $40.00 $50.00 $60.00 $70.00 $80.00 $90.00 $100.00

LGC Spot Price 2015-2017

$85.25

Large-scale RET legislated at 33,000 GWh

Final surrender date

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PPA prices “tumbling”

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Source: Origin Energy

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Our posture on compliance

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Our position remains that payment of the penalty or shortfall charge does not fulfil the purpose of the legislation to support new generation to meet the 2020 target.

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It is in the hands of retailers to forward contract for the Large-scale generation certificates to cover future liability at least cost.

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Clean Energy Regulator publications

  • LGC holdings – recently published on our website
  • Renewable Energy Target Annual Statement 2015
  • EY Report: Meeting the Renewable Energy Target: Innovative

approaches to financing renewables in Australia www.cleanenergyregulator.gov.au

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