Renewable Energy Act 2011 · s 18

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18.
Review and adjustment of degression rates
(1) The Authority shall review the degression rates in respect of any category of renewable energy installation at least once every three years after the date this Act comes into operation for the purposes of improving the overall performance of the feed-in tariff system to better achieve the objective of this Act.
(2) In carrying out the review under subsection (1), the Authority shall have regard to—
(a) the matters set out in subsection 3(3);
(b) the ability of the feed-in approval holders to recover their initial investment on their renewable energy installations and receive satisfactory returns within a reasonable time;
(c) the prevailing costs of equipping, constructing, operating and maintaining renewable energy installations utilising each particular renewable resource;
(d) the efficiency of renewable energy installations utilising each particular renewable resource based on prevailing technology; and
(e) any other factor deemed relevant by the Authority.
(3) Upon completion of the review under subsection (1), the
Authority shall submit a report of the review to the Minister with or without recommendations for adjustments to the degression rates.
(4) The Minister may, after considering the recommendations for adjustment to the degression rates made by the Authority under subsection (3), approve or refuse such recommendations.
(5) If the Minister approves the recommendation made by the
Authority under subsection (4), he shall as soon as practicable, revise the degression rates.

Renewable Energy 23
(6) The revised degression rates shall not apply to feed-in approval holders existing before the revised degression rates come into effect.

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s 18Review and adjustment of degression rates

(1)

The Authority shall review the degression rates in respect of any category of renewable energy installation at least once every three years after the date this Act comes into operation for the purposes of improving the overall performance of the feed-in tariff system to better achieve the objective of this Act.

(2)

In carrying out the review under subsection (1), the Authority shall have regard to—

(a)

the matters set out in subsection 3(3);

(b)

the ability of the feed-in approval holders to recover their initial investment on their renewable energy installations and receive satisfactory returns within a reasonable time;

(c)

the prevailing costs of equipping, constructing, operating and maintaining renewable energy installations utilising each particular renewable resource;

(d)

the efficiency of renewable energy installations utilising each particular renewable resource based on prevailing technology; and

(e)

any other factor deemed relevant by the Authority.

(3)

Upon completion of the review under subsection (1), the

Authority shall submit a report of the review to the Minister with or without recommendations for adjustments to the degression rates.

(4)

The Minister may, after considering the recommendations for adjustment to the degression rates made by the Authority under subsection (3), approve or refuse such recommendations.

(5)

If the Minister approves the recommendation made by the

Authority under subsection (4), he shall as soon as practicable, revise the degression rates.

Renewable Energy 23

(6)

The revised degression rates shall not apply to feed-in approval holders existing before the revised degression rates come into effect.