Electricity Supply Act 1995

The peak demand reduction targetfor a compliance period is the target prescribed by the regulations—

on the commencement of this clause, or

as amended in accordance with this clause.

The peak demand reduction target for a compliance period is to be used as the basis for the calculation of the scheme certificate target for the compliance period.

A regulation to amend a prescribed peak demand reduction target for a compliance period must be made at least 12 months before the commencement of the compliance period.

A regulation to amend a prescribed peak demand reduction target for a compliance period may be made only if the Minister is satisfied that the change to the peak demand reduction target is appropriate—

for the purposes of achieving greater uniformity or harmonisation with a scheme in another jurisdiction with similar objectives to the peak demand reduction scheme, or

for the purposes of implementing a national scheme with similar objectives to the peak demand reduction scheme, or

because of an under supply or over supply of certificates that may be surrendered, as evidenced in the way set out in the regulations, or

because of a target breach identified in an energy security target monitor report under the Electricity Infrastructure Investment Act 2020, or

because of significant changes to the scheme rules relating to the creation of certificates, or

because of significant changes to the policy or regulatory framework, or the market conditions, in which the peak demand reduction scheme operates.