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The CEC can say all it wants. Paying the penalty complies with...

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07/02/17

12:31

Post #: 22424549
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Originally posted by rubs1973 ↑

Searched afr and last article feb 6. Cant find any termination of contracts.

Meanwhile, the Clean Energy Regulator has warned electricity retailers that they have until the deadline of February 14 to meet their obligations under the Renewable Energy Target. It follows ERM Power, one of Australia's largest electricity retailers, choosing to pay a $123 million penalty rather than their RET liabilities.

"Paying a shortfall charge does not support generation to meet the 2020 target [of 23.5 per cent]," the Clean Energy Regulator said. "The intentional failure to surrender certificates will be viewed as a failure to comply with the spirit of the law and an undermining of the objectives and integrity of the scheme."

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The CEC can say all it wants. Paying the penalty complies with the law. Such a petty organisation. They can use that penalty to invest in renewables.

EPW Price at posting: $1.19 Sentiment: Buy Disclosure: Held
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