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Large-scale generation certificates
Certificates created under the Large-scale Renewable Energy Target (LRET) scheme in the online REC Registry administered by the Office of the Renewable Energy Regulator (ORER) by renewable energy power stations. One LGC is equivalent to 1 MWh (megawatt hour) of eligible renewable electricity generated above the power station’s baseline. End users may be able to benefit from creation of LGCs (e.g. if they operate an eligible biomass cogeneration facility). See also Small-scale technology certificates.
Large-Scale Renewable Energy Target Scheme
An Australian Government scheme designed to increase the proportion of energy produced by prescribed large-scale renewable energy technologies. The LRET places an obligation on liable parties (wholesale purchasers of electricity – primarily, energy retailers) to source a specified proportion of their energy purchases from large-scale renewable energy generators each year. See also Large-scale generation certificates and Small-scale technology certificates.
Liquefied Natural Gas
Natural gas that has been converted into liquid form making it more cost-effective to store and transport.
Refers to how an individual end user’s electricity demand changes throughout the day and year. The load profile is one of the main factors that determines what retailers will charge end users for their electricity supply. Generally speaking, all else being equal, the more variable and less predictable the load profile, the more retailers will charge end users for energy supply. See also Customer Load Variation Charge and ‘Peakiness’ of demand.
A form of demand-side response where an energy user can shift energy consumption from one time of day (or week) to another. See also Demand-side response.
The proportion by which retailers will increase the price of energy to account for losses that occur in transmission and distribution lines as electricity flows from generators to end users’ sites. These losses have a financial effect on energy retailers because they buy ‘wholesale’ electricity as it enters the transmission system at generator connection points but can only sell the ‘retail’ electricity that is delivered to end users; and the volume delivered is reduced by the losses. Wholesale electricity market rules allow energy retailers to recover the cost of these losses from energy users.