On 1 January 2003 the revised New South Wales Greenhouse Gas Abatement Scheme (Scheme) began operation in its new form. The Scheme sets and regulates mandatory targets for abating the emission of greenhouse gases from electricity production and use.
The Scheme requires NSW electricity retailers and certain other parties (benchmark participants) to meet mandatory targets by reducing their emissions of greenhouse gases to identified benchmark levels. A failure to do so will result in a penalty calculated per tonne of emissions generated above the benchmark participant's benchmark.
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