(1) The objects of this Part are to reduce greenhouse gas emissions associated with the production and use of electricity and to encourage participation in activities to offset the production of greenhouse gas emissions.(2) For those objects, this Part:(a) establishes State greenhouse gas benchmarks and individual greenhouse gas benchmarks for the reduction of greenhouse gas emissions that are to be met by retail suppliers, market customers and certain other persons who supply or consume electricity, and(b) provides for greenhouse gas benchmarks to be complied with by acquiring certificates relating to the carrying out of activities that promote the reduction of greenhouse gas emissions, and(c) provides an economic incentive to undertake activities resulting in the reduction of greenhouse gas emissions by imposing a penalty on greenhouse gas emissions above the specified benchmark.
In this Part:
abatement certificate means an abatement certificate created under this Part, being a transferable abatement certificate or a non-transferable abatement certificate.
accredited abatement certificate provider means a person accredited as an abatement certificate provider under this Part and whose accreditation is in force.
AEMO means the Australian Energy Market Operator Limited ACN 072 010 327.
benchmark participant means a person referred to in section 97BB (1) who is subject to a greenhouse gas benchmark.
carbon dioxide equivalent of greenhouse gas emissions means the mass of carbon dioxide measured in tonnes that has the same global warming potential as the gas emissions.
category A generation means category A generation, as referred to in the Emissions Workbook.
compliance period means:(a) for a year occurring before the start of the final compliance period, the period of one year commencing on 1 January in that year, or(b) the final compliance period.
elective participant means a benchmark participant referred to in section 97BB (1) (d) or (e).
electricity sector benchmark means the electricity sector benchmark referred to in section 97BC (1) (a).
Emissions Workbook means the document entitled Greenhouse Gas Emissions from Electricity Supplied in NSW: Emissions Workbook published by the Ministry of Energy and Utilities in October 2000.
final compliance period means the period ending on the day immediately preceding the termination day and commencing on 1 January in the same year as the termination day.
greenhouse gas means carbon dioxide, methane, nitrous oxide, a perfluorocarbon gas or any other gas prescribed by the regulations for the purposes of this definition.
greenhouse gas benchmark for a benchmark participant means the benchmark for a compliance period, in tonnes of carbon dioxide equivalent of greenhouse gas emissions, determined for the participant under this Part.
greenhouse gas benchmark rule means a rule approved under section 97K.
greenhouse penalty means the penalty payable under this Part by a benchmark participant who fails to comply with the participant’s greenhouse gas benchmark for reduction of greenhouse gas emissions.
greenhouse shortfall means the amount, in tonnes of carbon dioxide equivalent, by which a benchmark participant fails to comply with the participant’s greenhouse gas benchmark for a compliance period, as determined under this Part.
large customer means:(a) a customer (other than a retail supplier) that on its own account, or together with one or more other such customers (who are related entities), uses:(i) 100 gigawatt hours or more of electricity at a single site in this State in any year, or(ii) 100 gigawatt hours or more of electricity at more than one site in this State in any year, at least one of which uses 50 gigawatt hours or more of electricity in that year, or(b) a related entity of a customer referred to in paragraph (a), whether or not the entity is a customer.
market customer means a customer that has classified any of its electricity loads as a market load and that is registered with AEMO as a market customer under the National Electricity Code.
NSW pool coefficient means the average greenhouse gas emissions intensity of electricity sent out to customers in the State, expressed in tonnes of carbon dioxide equivalent per megawatt hour, as determined by the Tribunal under this Part.
register means a register required to be kept by the Scheme Administrator under this Part.
register of abatement certificates means the register of abatement certificates required to be kept by the Scheme Administrator under this Part.
register of accredited abatement certificate providers means the register of accredited abatement certificate providers required to be kept by the Scheme Administrator under this Part.
related body corporate of a person has the same meaning as it has in the Corporations Act 2001 of the Commonwealth.
related entity of a customer means a person (whether or not a customer) who is:(a) a related body corporate of the customer, or(b) a beneficiary of a trust of which the customer is or has at any time been a trustee, or(c) a trustee of a trust under which a person is a beneficiary, if the person is a related entity of the customer because of any other application or applications of this definition, or(d) engaged in a joint venture with the customer or a related entity of a customer.
renewable energy certificate means a certificate created under the Renewable Energy (Electricity) Act 2000 of the Commonwealth.
Scheme Administrator means the person or body on whom the functions of Scheme Administrator are conferred by or under this Part.
State greenhouse gas benchmark—see section 97B (1).
State population for a compliance period means the population of the State for the compliance period, as determined by the Tribunal under this Part.
State significant development has the same meaning as it has in the Environmental Planning and Assessment Act 1979.
termination day means the day prescribed by proclamation under section 97KB (1) (a).