Policy status:Ended
Date Effective:2001
Date Ended:2003
Policy Type:Voluntary Approaches>Negotiated Agreements (Public-private sector), Economic Instruments>Fiscal/financial incentives, Economic Instruments>Market-based instruments>Green certificates
Policy Target:Energy Sector>Electricity Generation>Renewable
Agency:Department of Climate Change; Office of the Renewable Energy Regulator
Funding:AUD 100 000 annual funding
Description:The Green Electricity Market (GEM) was a voluntary, industry- owned market trading in "green electricity rights", set up with government funding under the Renewable Energy Commercialisation Program (RECP). GEM went live in July 2001 and provided an Internet-based portfolio management and trading platform for the Renewable Energy Certificates (RECs). The governance structure of GEM was founded on an industry self-governance and co-operation model. This allowed market participants to voluntarily determine, agree and enforce operational market rules independent of industry regulators. The GEM ceased operations on 30 June 2003, and was seen as a valuable learning experience in industry self-governance, cooperation, internet trading and payment guarantee.
Related policies:Renewable Energy Target

Last modified: Tue, 17 Jul 2012 14:01:25 CEST