ICRC advice on ACT feed-in tariff premium pricing

The ACT Minister for Energy, Simon Corbell, released advice from the Independent Competition and Regulatory Commission (ICRC) about a revised premium rate for the ACT’s feed-in tariff scheme.

“I have recently received the formal advice from the ICRC, which proposes a revised rate of 39 cents per kWh for microgeneration under the scheme,” Corbell said. “Currently the rate for microgeneration stands at 45.7 cents per kWh. I, as the responsible minister, will make a decision on what the price will be at the beginning of April this year, which would then come into effect on 1 July 2011.

“This advice from the ICRC Senior Commissioner to change the price is based on the ICRC’s assessment of increased competition in the Australian market, and the apparent long-term reduction in the cost of solar panels and accompanying equipment.”

Under the Electricity Feed-in (Renewable Energy Premium) Act 2008, the minister is required to seek advice from the ICRC about the premium rate, circulate that advice to the members of the Legislative Assembly, and make a formal determination on the price that will apply from 1 July 2011.

“When making the determination on the microgeneration premium rate, I will also announce the percentage rate for the new medium-generation category passed by the Legislative Assembly in February this year,” Corbell added. “Uptake under the scheme on a micro scale (household level) has been strong to date, and the government is optimistic that there will be similar interest from the community under the medium-scale category of the feed-in tariff scheme.”