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The Act The Victorian Renewable Energy Target (VRET) scheme is implemented through the Victorian Renewable Energy Act 2006 (the Act) which was assented to on 19 September 2006. The Act establishes the VRET scheme which mandates that Victoria's consumption of electricity generated from renewable sources be increased to 10% by 2016. The VRET scheme involves the creation, acquisition and surrender of renewable energy certificates in order to meet the legislative objectives of:- encouraging additional generation of electricity from renewable energy sources; encouraging investment in the generation of renewable energy; further development of renewable energy technology; increased regional investment and employment; diversification of Victoria's energy supplies; and reduction in greenhouse gas emissions. The Act confers responsibilities and powers upon the Commission to administer the Act. As administrator, the Commission is responsible for registering persons, accrediting renewable energy power stations, maintaining registers, overseeing the creation, registration, transfer and surrender of the VRECs, imposing penalties, and monitoring compliance with the Act. The Victorian Renewable Energy Amendment Bill 2009 (the Bill) passed Legislative Assembly on 1 September 2009 and has now been introduced to the Legislative Council. The Bill paves the way for a transition of the Victorian Renewable Energy Target (VRET) scheme to a new federal eRET scheme by the end of January 2010. Federal legislation has increased the renewable energy target to 20% by 2020. The Rules The Act is to be supported by rules. The Act empowers the Commission to make rules 'for or with respect to any matter required or permitted by the Act to be provided for by the Commission Rules or which is necessary or convenient for carrying out or giving effect to the Act'. The Commission has made the Victorian Renewable Energy Target Scheme Rules (the Rules) in two stages. The Rules for Stage 1 was published in the government gazette on 5 July 2007, with the Rules taking effect from this date. The final and complete Rules (page 2102) was published in the government gazette on 13 September 2007, with the additional Rules (Rules 9.8, 10.7 and 13) taking effect from this date. The ESC is currently revising the Rules to define the circumstances of a transition from VRET to eRET. Orders in Council The Act requires or permits certain matters relating to the VRET scheme to be specified through an Order in Council published in the Government Gazette. Matters for which Orders in Council are required include: the fixing of the renewable power percentage in respect of a year; the fixing of an increased amount of electricity from eligible renewable energy sources in respect of a year; the determining of a scheme acquisition to be an excluded acquisition; the specifying of an energy source not listed in the Act to be an eligible renewable energy source; and the specifying of circumstances not listed in the Act on which the Commission may suspend the accreditation of an accredited power station. The following Orders in Council have been published in relation to the VRET scheme:- Order in Council dated 21 February 2008 (page 357) - Order excluding specified scheme acquisitions. Order in Council dated 26 October 2006 (page 2340) - Order excluding specified scheme acquisitions. Order in Council dated 29 May 2008 (page 1172) - Order setting the renewable power percentage for the 2008 year.
The Victorian Renewable Energy Target (VRET) scheme is implemented through the Victorian Renewable Energy Act 2006 (the Act) which was assented to on 19 September 2006. The Act establishes the VRET scheme which mandates that Victoria's consumption of electricity generated from renewable sources be increased to 10% by 2016. The VRET scheme involves the creation, acquisition and surrender of renewable energy certificates in order to meet the legislative objectives of:-
The Act confers responsibilities and powers upon the Commission to administer the Act. As administrator, the Commission is responsible for registering persons, accrediting renewable energy power stations, maintaining registers, overseeing the creation, registration, transfer and surrender of the VRECs, imposing penalties, and monitoring compliance with the Act.
The Victorian Renewable Energy Amendment Bill 2009 (the Bill) passed Legislative Assembly on 1 September 2009 and has now been introduced to the Legislative Council.
The Bill paves the way for a transition of the Victorian Renewable Energy Target (VRET) scheme to a new federal eRET scheme by the end of January 2010. Federal legislation has increased the renewable energy target to 20% by 2020.
The Act is to be supported by rules. The Act empowers the Commission to make rules 'for or with respect to any matter required or permitted by the Act to be provided for by the Commission Rules or which is necessary or convenient for carrying out or giving effect to the Act'. The Commission has made the Victorian Renewable Energy Target Scheme Rules (the Rules) in two stages. The Rules for Stage 1 was published in the government gazette on 5 July 2007, with the Rules taking effect from this date. The final and complete Rules (page 2102) was published in the government gazette on 13 September 2007, with the additional Rules (Rules 9.8, 10.7 and 13) taking effect from this date.
The ESC is currently revising the Rules to define the circumstances of a transition from VRET to eRET.
The Act requires or permits certain matters relating to the VRET scheme to be specified through an Order in Council published in the Government Gazette. Matters for which Orders in Council are required include:
The following Orders in Council have been published in relation to the VRET scheme:-
