Scheme participant to determine individual liable demand
89 Scheme participant to determine individual liable demand
A scheme participant must, after the end of a compliance period, calculate the scheme participant’s individual liable demand for the compliance period using the following formula—
where—
LA means the total of the scheme participant’s liable acquisitions, in megawatt hours, for the hours occurring in the peak demand reduction period on each of the 4 days nominated by the Scheme Regulator under subclause (2) for the compliance period.
n is the number of hours in the peak demand reduction period in one day.
The Scheme Regulator must, by 30 April each year, nominate and publish on its website the 4 days that had the highest maximum demand for megawatts of electricity during the compliance period.
The Scheme Regulator must nominate the 4 days by—
considering the demand for electricity over the whole of each day during the compliance period, not only during the peak demand reduction period, and
using information published by AEMO.
A scheme participant must, in the form approved by the Scheme Regulator, notify the Scheme Regulator of the scheme participant’s individual liable demand for the previous compliance period by—
30 September, or
a later day specified by the Scheme Regulator for the scheme participant.
Maximum penalty (subclause (4))—250 penalty units for a corporation or 100 penalty units for an individual.
If the scheme participant fails to notify the Scheme Regulator of the scheme participant’s individual liable demand in accordance with subclause (4), the Scheme Regulator must calculate the scheme participant’s individual liable demand for the compliance period in accordance with the regulations.
The Scheme Regulator’s calculation is taken to be the scheme participant’s individual liable demand.
This provision refers to the regulations (the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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