Australian Capital Territory Numbered Acts

ELECTRICITY FEED-IN (LARGE-SCALE RENEWABLE ENERGY GENERATION) ACT 2011 (NO. 56 OF 2011) - SECT 19

    (1)     A FiT support payment for the holder of a FiT entitlement for a period is the multiple of—

        (a)     the amount that is the holder's feed-in tariff, stated in the grant, less the spot price value of the eligible electricity during the period; and

        (b)     the quantity of the holder's eligible electricity during the period.

    (2)     If the amount of a FiT support payment worked out under this section is a negative amount, the electricity distributor may—

        (a)     offset the amount against any subsequent FiT support payment payable to the holder of the FiT entitlement; or

        (b)     require the holder of the FiT entitlement, by written notice, to pay the distributor the amount within 30 days after the distributor gives the notice.

    (3)     In this section:

"AEMO"—see the national electricity rules, chapter 10 (Glossary).

"spot market"—see the national electricity rules, chapter 10 (Glossary).

"spot price value", of the eligible electricity of the holder of a FiT entitlement, means the amount that would have been paid to the holder for the electricity by the AEMO if the electricity had been sold on the spot market.