15
CurrentPenalties for energy savings shortfalls
Schedule 4AEnergy security safeguard schemes
Part 1Energy savings scheme
Division 4Individual energy savings targets
15 Penalties for energy savings shortfalls
(1)
A scheme participant who has an energy savings shortfall for a year is liable to pay a penalty in respect of that year (an energy savings shortfall penalty).
(2)
The amount of the energy savings shortfall penalty is the amount (in dollars) calculated by multiplying the amount of the energy savings shortfall by the scheme penalty rate.
(3)
If the result obtained from that calculation is not a whole number of dollars, it is to be rounded down to the nearest whole number of dollars.
This Act’s bill:Explanatory memorandumSecond reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.