Clean energy regulation strengthened

By a staff reporter

A new, independent body to represent businesses and individuals that create and trade in Renewable Energy Certificates (RECs) has been established.

The REC Agents Association (RAA) has been created to represent and self-regulate the activities of businesses creating and trading RECs, the trading system that underpins Australia’s Renewable Energy Target (RET) and facilitates the installation of solar panels and solar hot water systems.

“The RAA will work closely with the Australian government and the new Clean Energy Regulator to monitor and improve compliance by agents with relevant Acts, and to provide advice to the statutory review of the RET,” a statement from RAA said.
“RAA will work with members of federal parliament and key stakeholders on issues affecting Agents.”

“The RAA will be a strong, public advocate for the RET and other market-based schemes. The RAA will also address some of the misinformation around the cost and effectiveness of these schemes, in particular that the RET is a major driver of rising electricity prices. In fact, the Australian Energy Market Commission has shown renewable energy schemes are only responsible for 3 per cent of the likely rise in power prices over the next few years.”

The inaugural board of the RAA includes: Ric Brazzale, President (CEO of Green Energy Trading); Fiona O’Hehir, Vice President (Greenbank Environmental); Geoffrey Alexander, Treasurer (COZero) and Stephen Coleman (RET Australia).

The REC Agents Association will not represent householders, but the ‘registered’ agents to whom RECs have been assigned by the owners of eligible renewable energy systems.

“Initially, RAA will focus on the small scale renewable energy market and the creation and trading of small scale technology certificates,” the RAA said.

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