Victorian Numbered Acts

VICTORIAN RENEWABLE ENERGY ACT 2006 (NO 72 OF 2006) - SECT 63

    (1)     The shortfall penalty rate is $43 per MWh as varied in accordance with this section.

    (2)     The amount referred to in sub-section (1) that is to apply in respect of 2007 and each subsequent year is to be varied in accordance with the formula—

where—

    "A"     is the amount referred to in sub-section (1).

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

    "C"     is the all groups consumer price index for Melbourne published by the Australian Statistician in respect of the 2006 September quarter.

    (3)     If an amount is varied in accordance with this section, sub-section (1) has effect as if a reference to the amount were a reference to the amount as 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 sub-section (1) in respect of the relevant year.