A liable entity is a person or company who makes a relevant acquisition of electricity.

Under the Renewable Energy Target, liable entities must surrender:

Your obligations

Follow your legal obligations by:

  • lodging your energy acquisition statement (EAS) before 14 February
  • surrendering LGCs annually and STCs quarterly
  • paying any applicable shortfall charges by the invoice due date
  • paying any applicable surrender fees.

If we find any issues with your EAS we may investigate further and ask for an audit.

Failure to meet obligations

False or misleading information

Under the Criminal Code Act 1995 it's a criminal offence to provide us with false or misleading information, including withholding information.

Failure to meet your obligations could result in imprisonment and other penalties. Unpaid shortfall charges will also attract interest. Until we receive payment, we will pursue all incurred debt.

You should seek professional and independent advice if you:

  • don't understand your requirements
  • have difficulty fulfilling your obligations.

Interest charges

Interest automatically applies to any unpaid:

  • STC or LGC shortfall charge
  • penalty charge
  • interest charge.

You must pay the principal amount and any applicable interest.

Multiply the unpaid amount by the daily general interest charge rate to calculate daily interest.

Relevant legislation: section 8AAD of the Taxation Administration Act 1953.

Penalty charges

The table shows the different penalty situations and related fees.

Liable entity penalty fees

SituationPenalty fee
Failure to lodge a statement or information relevant to shortfall charges for a year.2 x shortfall charge payable for the year ($130 per certificate not surrendered)
Failure to keep or produce calculation records of a certificate shortfall or surplus for a year.2 x shortfall charge payable for the year ($130 per certificate not surrendered)
Making a false or misleading statement and the calculated shortfall charge is higher than if the statement were true. This includes omitting information from a statement that makes it false or misleading.2 x shortfall charge payable for the year ($130 per certificate not surrendered)
Making an arrangement with the purpose of avoiding or reducing a shortfall charge.2 x the amount avoided or reduced ($130 per certificate)

Change of circumstances

If your circumstances have changed, you can apply to vary a previous determination.