Document ID: chunk:federal_register_of_legislation:C2012C00857:clause:1_124
Version: federal_register_of_legislation:C2012C00857
Segment Type: clause
Provision Reference: sch 1 cl 124
Character Range: 105201–107115

124  At the end of section 40
Add:

Adjustment of targets according to number of valid certificates as at the end of 2010
 (1A) If, as at the end of the year 2010, the total value, in GWh, of valid renewable energy certificates exceeds 34,500, the table in subsection (1) has effect in accordance with the following paragraphs:
 (a) the number of GWh specified in the table for each of the following years is taken to be increased by half of the excess:
 (i) the year 2012;
 (ii) the year 2013;
 (b) the number of GWh specified in the table for each of the following years is taken to be reduced by one quarter of the excess:
 (i) the year 2016;
 (ii) the year 2017;
 (iii) the year 2018;
 (iv) the year 2019.
 (1B) As soon as practicable after the end of the year 2010, the Regulator must publish on its website the total value referred to in subsection (1A).

Adjustment of targets if there is a WCMG start day
 (2) If the regulations prescribe a day (the WCMG start day) for the purpose of subparagraph 17A(1)(a)(i), the table in subsection (1) has effect (after first taking account of subsection (1A)) in accordance with subsections (3) and (4).
 (3) The number of GWh specified in the table for the year that includes the WCMG start day is taken to be increased by the amount worked out using the formula:
where:
remaining days in the year means the number of days in the year after the WCMG start day.
 (4) The number of GWh specified in the table in subsection (1) for each later year, other than any year after 2020, is taken to be increased by 850 GWh.
 (5) If, for the year in which the WCMG start day occurs, regulations were made before that day specifying the renewable power percentage for the year, the validity of those regulations is not affected by the fact that the required GWh of renewable source electricity for the year changed, because of subsection (3), after the regulations were made.