The object of the Act is to improve the identification and evaluation of energy efficiency opportunities by large energy using businesses. The Act requires them to undertake an assessment of their energy efficiency opportunities to a minimum standard to improve the way in which opportunities are identified and evaluated; and to report publicly on the outcomes of their assessment to demonstrate to the community that their energy use is being effectively managed.
Corporations which use more than half a petajoule of energy per year must register on the Register of Corporations for the Energy Efficiency Opportunities Scheme. The Act distinguishes between a holding company which is a body corporate, and a controlling corporation which is a constitutional corporation which does not have a holding company registered in Australia. Registered corporations are required to submit assessment plans (AP) every 5 years. The AP must:
- Set out a proposal for assessing the opportunities for improving energy efficiency.
- Set out a deadline for doing all of the action set out for assessing energy efficiency opportunities.The Regulations may set out requirements relating to the carrying out of the proposal to better assess opportunities for improving energy efficiency opportunities. They may include requirements for communication of objectives about energy use; the measurement and analysis of energy use; and the identification and evaluation of opportunities for improving energy efficiency.
A registered corporation must report publicly on the way in which the corporation has carried out the proposal in its AP for assessing the opportunities to improve energy efficiency. It must also report on the results of carrying out the proposal and how the corporation has responded to the results.
Inspectors are given powers under the Act to inspect and monitor activities under the Act. Civil and criminal penalties apply to a breach of the Act.
However, the corporations will retain the decision whether or not to pursue the opportunities that have been identified based on a commercial assessment of the options.
Source: Parliament of the Common-wealth of Australia, September 2005.
