Prices this month for Large Scale Generation Certificates (LGCs) have continued their downward trend from Cal 18, coming in around $40/MWh per certificate. This is a stark contrast to the $80/MWh price they were receiving only 12 months ago, with industry experts predicting that it is set decline sharply again within the next two years. The dramatic swing could be due to a number of reasons, however, key among them appears to be the large influx of large-scale renewable projects that were either announced or commenced over the last 12 months. Aside from significantly altering the market’s balance of demand and supply, the combined capacity of the projects has led to the Clean Energy Regulator (CER) predicting that the Commonwealth’s Renewable Energy Target (RET) of 33,000 GWh by 2020 will likely be met