Certificate surrender

Liable entities can surrender large-scale generation certificates (LGC) and small-scale technology certificates (STC) to acquit their certificate liability, as calculated in your energy acquisition statement (EAS). 

You can also surrender for other reasons such as:

• amending an EAS
• claiming LGC shortfall charge refunds
• voluntarily.

Your certificate liability is based on your reduced acquisitions amount. You can work out how much to surrender by calculating certificate liability.

If you don’t surrender enough certificates you must lodge a renewable energy shortfall statement. You may also need to pay a shortfall charge.

Find out more about reporting liability and getting exemption certificates to reduce liability.

How and when to surrender certificates

You can buy and surrender LGCs and STCs in the REC Registry. 

Find out more about reporting liability.

Surrender period

You must surrender STCs for each reporting period during the surrender period and by the surrender deadline:

• Q1: 15 February – 28 April
• Q2: 29 April – 28 July
• Q3: 29 July – 28 October
• Q4: 29 October – 14 February

The deadline to surrender LGCs is by 14 February each year for the previous calendar year.

We recommend buying certificates in advance of the surrender deadline. This will ensure you can meet your surrender obligations.

Surrender fees

The fee for surrendering LGCs and STCs is 8 cents per certificate. Fees do not apply to:

• LGC shortfall charge refunds
• voluntary surrenders.

Once we accept surrendered certificates, we'll issue an invoice in the REC Registry.

Payment terms are within 28 days (late fees may apply).

Apply to vary the surrender amount

The required STC surrender amount for Q1 to Q3 is based on what you have acquired in the previous year.

You can apply to vary your amount if you will be acquiring much less than the previous year. This could be due to:

• loss of a large customer or multiple customers
• issuance of an exemption certificate
• cessation of trade
• a merger with another corporation
• migration of customers between entities.

You can vary only if you:

• lodge an EAS before 1 April for the previous year
• submit an application before 1 October for the same year.

You can apply more than once a year. We’ll notify you if we approve the amount you proposed or if it needs to be a different amount.

Apply to set the surrender amount

If you didn't lodge an EAS for the previous year, you can apply to set your required surrender amount for Q1 to Q3 of the current year. This applies to both new and existing liable entities.

Before applying to set the STC surrender amount, you must:

• make a relevant acquisition in the assessment year
• have a liable entity account in the REC Registry
• provide the primary account contact a login with liability permissions (in the application form).

You can apply to set your surrender amount only if you:

• didn’t lodge an EAS for the previous year
• submit an application by 31 December for the same year.

You can apply more than once a year. We’ll notify you if we approve the amount you proposed or if it needs to be a different amount.

Vintage rule

You can only surrender certificates that were created in the assessment year they are surrendered against, or earlier. This ’vintage rule’:

• applies to EAS surrenders and amendments
• doesn't apply to LGC shortfall charge refunds
• doesn’t apply to STCs purchased directly from the clearing house. Certificates that are received from a transfer are stamped with the year they were transferred as the creation year. Transferred certificates can only be used for the year (or earlier) that you are surrendering for.

Voluntary surrender

You may choose to voluntarily surrender certificates to:

• support additional renewable energy generation
• remedy non-compliance under the scheme
• meet GreenPower obligations.

Learn more about voluntary offsetting and surrender.