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LGP’s Renewable Electricity Product Specification
All Electricity supplied as Renewable will be produced by one or more facilities that are accredited by the Office of the Renewable Energy Regulator (ORER), and are in principle capable of creating Renewable Energy Certificates (RECs).
The Renewable Electricity supplied under this agreement does not include the transfer of ownership of any RECs created under ORER.
The Seller retains complete ownership of any RECs associated with Renewable Electricity supplied to the Buyer by the Seller.
Not all the ORER-accredited facilities actually create RECs due to them not exceeding baselines specified by ORER.
The time-and-quantity production profile of Electricity supplied under this Agreement as Renewable, will in general not be related to the consumption profile of the Buyer. This will instead be injected into the electricity network on an average basis at some unspecified time throughout the Contract Year, in which it is allocated by means of inclusion on an invoice.
The Seller reserves the right to Carry-Over and Borrow Renewable Electricity production for the purpose of smoothing the monthly allocation to its Portfolio of Buyers and compensating for temporary production variations, but will use reasonable endeavours to keep production and consumption in balance on an annual basis.
Renewable Electricity shall be delivered to the Buyer net of network losses. For clarity, this means that in general (but depending on specific circumstances) more Renewable Electricity will be injected into the network than is delivered to the customer, the differences being consumed and written-off as losses.
The Seller shall regularly audit its Renewable Electricity production and sales.
The Seller shall ensure that each unit of Renewable Electricity production is sold only once to a single customer or consumed as a network loss, and that there is no double-selling.
The Seller is not selling and the Buyer is not buying a product known as or related to “GreenPower™ Accredited Renewable Energy”, which is administered by the Department of Water and Energy of NSW. Further, the Buyer warrants that it will in no way claim otherwise in respect of supply to the Sites.
in respect of the supply of Renewable Electricity, an internal paper transaction whereby production occurring during a given month is treated as though it were actually produced in a preceding month.
in respect of the supply of Renewable Electricity, an internal paper transaction whereby production occurring in a given month is treated as though it were actually produced in a subsequent month.