Surrender is the end of an STC’s life. Once a liable entity surrenders a certificate to the Clean Energy Regulator, it is cancelled, which is why the market needs a steady flow of new ones.
How surrender works
A liable entity works out its certificate liability from the electricity it has acquired and the STP. It then surrenders that number of STCs through its REC Registry account. The regulator checks the surrender against the entity’s reported liability. A shortfall brings a charge, covered in the shortfall charge page.
STCs are surrendered quarterly, unlike LGCs, which are surrendered annually. This is deliberate: it spreads demand through the year, so that certificates created in each quarter find buyers promptly.
The deadlines
The regulator’s quarterly surrender periods are:
| Quarter | Surrender period closes |
|---|---|
| Q1 | 28 April |
| Q2 | 28 July |
| Q3 | 28 October |
| Q4 | 14 February |
The regulator has said it has no discretion to extend a surrender deadline. Its public notices ahead of each date urge retailers to act early, because the registry load builds up in the final days.
The 28 February question
Searches for “STC surrender date 28 February” do not match the quarterly dates above. The February deadline is 14 February, and it closes the fourth quarter. If you have seen 28 February, it is likely a misremembered date, an old reference, or a state-level scheme with its own dates. For any certificate you hold, check the regulator’s current liability page before you rely on a date.
What happens in the market around deadlines
Retailers tend to buy more certificates in the weeks before a surrender date, and that can tighten the spot market or shorten the Clearing House queue. If supply is short, the buyer pays up to $40 ex GST from the Clearing House. If the market is oversupplied, the queue grows. See the Clearing House surplus and deficit page.
Checking a retailer’s position
The regulator publishes aggregate data on certificates surrendered and on liable entities that meet their obligations, and its quarterly carbon market reports comment on how the STC market behaved around each surrender date. If you trade volume and want to understand demand timing, those reports are the best free source. They show, for example, how many certificates went through the Clearing House in a quarter, which is a direct read on how much retailers leaned on the backstop.
What this means for installers
You never surrender certificates. But the quarterly cycle explains seasonal firmness in demand and why there is always a buyer at the end of the chain. Check how your trader settles on the pricing page and read how STC trading works. For tax and invoicing on your side of the trade, see RCTI, GST and ABN for STC payments.