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Certificates · LGC

Australian LGCs

Large-scale Generation Certificates are created for renewable generation in Australia, surrendered by liable entities under the Renewable Energy Target, and increasingly by companies voluntarily.

Updated 14 October 2026

Issuer and registryClean Energy Regulator, REC Registry
Unit1 certificate = 1 MWh
Valid forAustralian consumption
Created, 202559.7 million certificates
Voluntary surrenders3.6 million in the June quarter of 2026, up 91% on a year earlier
Spot priceA$8.50 on 14 August 2026, up from A$7.00 on 30 June (Clean Energy Regulator)

How buying works

LGCs are transferred between REC Registry accounts and voluntarily surrendered for a company's claim. The regulator projects a surplus of certificates at the end of 2026, while voluntary demand is growing quickly.

What to check before buying

  • Voluntary surrender in your company's name, separate from any liable entity's obligation.
  • Vintage and plant age if you report to RE100.
  • Price date. LGC spot prices have moved sharply within single quarters.

Sources

  1. Clean Energy Regulator: Quarterly Carbon Market Report, June quarter 2026
  2. Clean Energy Regulator: Quarterly Carbon Market Report, December quarter 2025
  3. Clean Energy Regulator: REC Registry