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Wednesday, 19 September 2012
Page: 11163

Mr COMBET (CharltonMinister for Industry and Innovation and Minister for Climate Change and Energy Efficiency) (09:32): I move:

That this bill be now read a second time.

This bill is also part of a package of bills that amend the Clean Energy Act 2011 and related acts.

At present the equivalent carbon price imposed on certain liquid fuels after 1 July 2015 is based on the average auction price of domestic carbon units.

The Clean Energy Amendment (International Emissions Trading and Other Measures) Bill 2012 introduces a ‘per-tonne carbon price equivalent’. This provides an estimate of the effective carbon price faced by liable entities when the carbon pricing mechanism links to the European Union emissions trading scheme.

This bill amends the Excise Tariff Act 1921 so that the per-tonne carbon price equivalent is applied to liquid fuels, instead of the average carbon unit auction price.

I commend the bill to the House.

Debate adjourned.