A seven-year renewable energy certificate purchase agreement struck between Frasers Property Australia and Origin Energy will enable Real Utilities to meet 100% of its customers’ projected electricity demands.
Under the Large-Scale Generation Certificate (LGC) agreement, Frasers Property will purchase 140,000 certificates per year from 2024 to 2030..
It means Real Utilities will fulfil its commitment to supply its customers 100% renewable energy, which is certified carbon neutral under the Australian Government’s Climate Active program.
Real Utilities is the wholly-owned licensed energy retailing business of Frasers Property. It has a pivotal role in Frasers Property’s net zero strategy.
“We are able to deliver carbon neutral energy solutions, monitor the energy consumption in every building we have introduced Real Utilities and calculate the required off-site renewable energy requirement to neutralise our and our customers carbon emissions from our supplied energy,” says Paolo Bevilacqua, General Manager, Real Utilities.
“By procuring certificates that underpin the development of clean energy generated from Australian wind farms and solar farms through Origin Energy, we will be able to mitigate all our energy emissions in the seven-year period and make our customers’ electricity supply 100% offset as part of our goal to achieve carbon neutral and Real Utilities’ commitment to supply 100% renewable energy.”
In addition to Frasers Property Australia, Real Utilities also supplies carbon neutral energy solutions to Frasers Property Industrial, and the purchase agreement covers residential, retail, commercial and industrial customers of both companies across Australia.