24—Energy efficiency activities
(1) A retailer to which this Part applies must, subject to subregulation (2), undertake energy efficiency activities sufficient to achieve the GGRT that applies to the retailer for that year (as adjusted to take into account any shortfall added under subregulation (3)).
(2) It is not a breach of subregulation (1) if a retailer undertakes energy efficiency activities in a year sufficient to achieve at least 90% of the GGRT that applies to the retailer for that year.
(3) Despite subregulation (2), where a retailer fails to achieve its GGRT in a year, the greenhouse gas reduction shortfall must be added to a GGRT that applies to the retailer in a subsequent year.
(4) An energy efficiency activity undertaken by a retailer for the purposes of achieving a PGGGRT under regulation 25 is taken to be included as an energy efficiency activity undertaken by a retailer for the purpose of achieving its GGRT under this regulation.
(a) a retailer undertakes energy efficiency activities in a year sufficient to achieve at least 90% of its GGRT for that year but does not achieve its GGRT; and
(b) in the subsequent calendar year this Part no longer applies to the retailer because the retailer retails gas to fewer than the threshold number of residential customers set by the Minister under regulation 16(3),
the retailer must undertake energy efficiency activities in the subsequent year to account for its greenhouse gas reduction shortfall from the previous year.
(6) If—
(a) a retailer fails to achieve its GGRT with respect to any year; and
(b) the retailer—
(i) pays a shortfall penalty in accordance with the requirements of section 91A of the Act with respect to that failure; or
(ii) is subject to a penalty on account of a prosecution in respect of that failure,
the greenhouse gas reduction shortfall to which the shortfall penalty or prosecution relates will no longer apply to the retailer.
(7) In this regulation—
"greenhouse gas reduction shortfall" means the difference (expressed in tonnes of carbon dioxide equivalent) between the GGRT that applies to the retailer for a year and the actual tonnes of carbon dioxide equivalent taken to have been saved by that retailer in that year through the conduct of energy efficiency activities.