LGCs, large-scale generation certificates, trade on a market with no fixed price and no clearing house. At the time of writing the spot price has been roughly $6 to $9 in September 2026, though it can move week to week. If you are looking for a number you can bank, the answer is a range, and the right place to look is a current broker or market report.
What an LGC represents
One LGC is one megawatt hour of electricity generated by an accredited renewable power station above its baseline. They are created after the generation has happened, so supply builds up through the year. See what an LGC is for the basics.
What moves the price
- Supply. More accredited wind and solar farms means more LGCs.
- Demand. Electricity retailers and other liable entities must surrender LGCs to meet their annual obligations under the Renewable Energy Target.
- Policy. The scheme runs to 2030, and the closer the end date, the more weight the market gives to what comes after.
- Timing. Prices are often firmer ahead of the surrender deadline.
How it compares with STCs
STCs are capped at $40 through the clearing house and have been trading at roughly $38 to $40. LGCs are a smaller-ticket certificate and far more volatile. A 150 kW commercial system installed from 1 October 2026 will make far more from STCs upfront than from LGCs over time; LGCs now matter mainly above 1 MW and for older systems above 100 kW. See LGC vs STC.
Looking up the price
Spot prices are published by brokers and market reporters. For a time-sensitive transaction, get a quote on the day.
From the desk: a spot price is for immediate delivery of registered certificates. A forward price, for delivery later, may sit above or below it.
A practical rule of thumb
If you are valuing a commercial solar project, run the numbers at the low and high ends of the range, not just the middle. A project that only works at $9 is fragile, and one that still works at $6 is robust. That discipline is more useful than trying to predict the next move in the market.
What this means for you
Do not budget off a single day’s figure. Look at the trend, speak to a broker and check the market before you sign a long-term offtake. Energy Merchants focuses on STCs, VEECs and battery STCs, and publishes those rates on pricing. For the wider context, see STC trading and the resources hub.