The Australian Government has announced a plan to reduce energy prices for consumers, by submitting a policy change proposal to the Australian Energy Market Commission (AEMC).
These new proposed changes will force energy providers to modify their policies on discounts for those consumers that pay “on time” or use a certain payment method, to support Australians with the financial strain that increasing energy prices have generated. As stated by the Energy Minister Angus Taylor, “This rule change will not only reduce confusion for families and small businesses but also enable them to make more empowered and informed decisions about their energy plan.” Read More
The Renewable Energy Target (RET) is a Federal Government policy which requires that 20 per cent of Australia’s electricity will be produced from renewable energy sources by 2020. To meet this objective, the Government has set annual targets for electricity retailers and wholesale buyers. Compliance is demonstrated by surrendering renewable energy certificates (REC’s), where one REC is equivalent to one additional megawatt-hour (MWh) of electricity generated of general energy sources. Failure to surrender adequate REC’s to the Clean Energy Regulator results in a shortage charge of $65 per MWh. Read More