The renewable power percentage | 2019 rpp
The2021renewablepowerpercentage(RPP)is18.54%.Thismeans liableentities[1](generallyelectricityretailers)arerequiredtosurrenderapproximately32.6millionlarge-scalegenerationcertificates(LGCs)tomeettheirLarge-scaleRenewableEnergyTarget(LRET)obligationsfor2021.LiableentitiesthatdonotsurrendersufficientLGCstomeettheirobligationsarerequiredtopaya non-taxdeductibleshortfallcharge[2],witharefundavailableincertaincircumstances.ContentsAbouttherenewablepowerpercentageTheLRETaimstomeettheannualt...
The 2021 renewable power percentage (RPP) is 18.54%.
This means liable entities[1] (generally electricity retailers) are required to surrender approximately 32.6 million large-scale generation certificates (LGCs) to meet their Large-scale Renewable Energy Target (LRET) obligations for 2021.
Liable entities that do not surrender sufficient LGCs to meet their obligations are required to pay a non-tax deductible shortfall charge[2], with a refund available in certain circumstances.
ContentsAbout the renewable power percentageThe LRET aims to meet the annual target for renewable electricity set out in the Renewable Energy (Electricity) Act 2000 (the Act). The annual target increases each year until 2020 and is then constant at 33,000,000 megawatt hours (MWh) from 2021 to 2030.
The number of LGCs each liable entity is required to surrender each year is calculated by multiplying the amount of wholesale electricity (relevant acquisitions) t...