The ACT offered what’s known as “contracts for difference” to each of the projects. If the wholesale electricity price averages more than that contract price, the excess received by the wind farm owner is returned to the ACT. If the average wholesale price is below, the difference is topped up by the ACT.
What made the contract more interesting was the decision to extinguish the LGCs attached to the wind and solar farm contracts rather than cash them in. That’s because the ACT wanted its efforts to be “additional” to the federal renewable energy target, rather than an excuse for others to do less.
Gorgritch_umie_killa in environment
ACT went first and fastest to 100 per cent renewables: It now looks like the smartest policy of all
https://reneweconomy.com.au/act-went-first-and-fastest-to-100-per-cent-renewables-it-now-looks-like-the-smartest-policy-of-all/Smart policy equals good results.