Victorian Numbered Regulations

VICTORIAN ENERGY EFFICIENCY TARGET REGULATIONS 2008 (SR NO 158 OF 2008) - REG 11

r. 11

    (1)     The prescribed shortfall penalty rate for the purposes of section 28 of the Act is $40 as varied in accordance with this regulation.

    (2)     The amount referred to in subregulation (1) that is to apply in respect of 2010 and each subsequent year is to be varied in accordance with the formula—

where—

    A     is the amount referred to in subregulation (1);

    B     is the all groups consumer price index for Melbourne published by the Australian Statistician in respect of the September quarter of the previous year;

    C     is the all groups consumer price index for Melbourne published by the Australian Statistician in respect of the 2009 September quarter.

    (3)     If an amount is varied in accordance with this regulation, subregulation (1) has effect as if a reference to the amount referred to in subregulation (1) were a reference to the amount so varied.

    (4)     The ESC must cause a notice to be published in the Government Gazette specifying the amount as varied for the purposes of subregulation (1) in respect of the relevant year.