As a Scheme Participant, you need to comply with certain legal obligations after liability for the Peak Demand Reduction Scheme (PDRS) commences on 1 November 2022.
Your obligations include:
- informing the Scheme Regulator whether you have non-market acquisitions and/or exempt electricity loads by 31 May after the compliance period
- calculating and reporting your individual liable demand by 30 September after the compliance period
- lodging an annual statement detailing your individual certificate target and how you will meet your obligations by 15 December after the compliance period
- meeting your individual certificate target by electing to:
- surrender certificates
- carry forward a shortfall
- pay a shortfall penalty. Note, a shortfall penalty must be paid within 12 months of the end of the compliance period – that is, 31 March.
These dates are set out in the Electricity Supply Act but the Scheme Regulator can specify later dates.
IPART will provide information you need to meet your obligations including:
- publishing the scheme certificate target by 31 October before the start of the compliance period
- publishing the 4 days with the highest demand by 30 April after the compliance period (see the Four peak days page)
- notifying Scheme Participants of market acquisitions by 31 July after the compliance period
- publishing the scheme liable demand by 15 November after the compliance period.
Key dates for publishing this information and when you need to meet your obligations is provided on the timeline below.
The Scheme Participant requirements page and other pages in this section provide more details to help you understand how to comply.