The Greenhouse Gas Reduction Scheme (GGAS) is one of the first mandatory greenhouse gas emissions trading schemes in the world. GGAS commenced on 1 January 2003 and targets are set until 2012.
Development of GGAS’ systems and procedures occurred over the first eight months of the scheme’s operation. Key milestone events for GGAS have been:
| 24 Dec 2002 |
GGAS web site online. |
| 10 Jan 2003 |
Independent Pricing and Regulatory Tribunal (IPART) published the first key factors for the 2003 compliance year. |
| Feb to Mar 2003 |
IPART hosted a series of public workshops to explain GGAS. |
| Feb to Apr 2003 |
Finalised audit framework. |
| Mar to Jul 2003 |
Trial accreditations undertaken under the four GGAS Rules. |
| May to Aug 2003 |
Establish and train panel of auditors. |
| 27 Aug 2003 |
IPART hosted a public information session to launch the documents, administrative processes and on-line certificate registry, established to support GGAS and participants. |
| Sep 2003 |
Scheme Administrator begins processing applications for accreditation. |
| 30 Sep 2003 |
Final date for Large Customers and persons carrying out State Significant Development to submit Election Forms to become benchmark participants for 2003 and/or 2004 calendar years. |
| 3 Oct 2003 |
Greenhouse Gas Benchmark Rules amended. |
| 31 Oct 2003 |
Guide to Record Keeping released. |
| Nov 2003 |
IPART published key factors for the 2004 compliance year. |
| Dec 2003 |
IPART accredits first applicant (outside trials) under the Greenhouse Gas Benchmark Rule (Generation) No. 2 of 2003. |
| Mar 2004 |
First annual benchmark statements submitted; 1.2 million NGACs surrendered for compliance |
| 11 Jun 2004 |
Greenhouse Gas Benchmark Rules amended. |
| 30 Jun 2004 |
First Scheme report submitted to Minister for Energy; last day to create NGACs for 2003 calendar year. |
| 1 Oct 2004 |
Regulation amended allowing future projects to be accredited. |
| Nov 2004 |
IPART published key factors for the 2005 compliance year. |
| 8 Feb 2005 |
Public forum “Creating a market for carbon in NSW’ hosted by IPART |
| 18 Mar 2005 |
Second annual benchmark statements submitted; 5 million NGACs surrendered for compliance |
| May 2005 |
Electricity Supply Act amended. |
| 30 Jun 2005 |
All transitional arrangements in scheme terminated; last day to create NGACs for 2004 calendar year; second annual Scheme report submitted to Minister for Energy |
| Aug 2005 |
Compliance and Performance Monitoring Strategy released |
| 4 Apr 2003 |
Election form available for Large Customers and persons carrying out State significant development to elect to manage benchmark. |
| Apr to Jul 2003 |
Trial of accreditation forms with a limited number of applicants. |
| Aug 2003 |
Guides to applying and application forms for accreditation as an abatement certificate providers available. |
| Aug 2003 |
Compliance reporting format for benchmark participants Annual Benchmark Statements developed. |
| Oct 2004 |
Carbon sequestration framework finalised . |
| Aug 2005 |
‘Record Keeping Arrangements for Small Energy Efficiency projects form’ released’ |
| Feb 2003 |
Expression of interest for development of online registry. |
| 27 Mar 2003 |
Request for Tender to short-listed parties. |
| 16 May 2003 |
Appointment of Registry Contractor. |
| May to Aug 2003 |
Registry Contractor develops and tests online registry. |
| End Aug 2003 |
Acceptance testing of on-line registry. |
| 15 Sep 2003 |
Online registry commences operation. |
| Apr to May 2005 |
Audit of Registry undertaken |
| Jun 2005 |
Enhancements to Registry introduced |
