The NSW Greenhouse Gas Reduction Scheme (GGAS) was introduced by amendments to the Electricity Supply Act 1995 in December 2002. GGAS closed on 1 July 2012.
Under GGAS, electricity retail suppliers and certain other entities were required to meet mandatory targets for reducing the emission of greenhouse gases from electricity production and use. IPART was responsible for determining:
- key factors that were used to determine annual greenhouse gas benchmarks (and making these figures public)
- the greenhouse gas benchmark for each benchmark participant, and
- the greenhouse shortfall and any liability for greenhouse penalty payable by a benchmark participant.
As the Scheme Administrator, IPART is required to continue to:
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monitor compliance of the remaining abatement certificate providers, and
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administer a registry of abatement certificates.