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Renewable Energy (Electricity) Amendment Bill 2009

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5833

2008-2009

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

Renewable Energy (Electricity) Amendment Bill 2009

(1)     Schedule 2, item 3, page 12 (lines 22 to 26), item TO BE OPPOSED .

[trade exposed activities]

(2)     Schedule 2, item 8, page 13 (after line 19), after section 38A, insert:

38AA  Regulations in relation to emissions-intensive trade-exposed activities

             (1)  The regulations must determine the activities that are emissions-intensive trade-exposed activities for the purpose of calculating for a year the amount of a liable entity’s partial exemption, that is used in working out the liable entity’s renewable energy certificate shortfall for that year under section 38.

             (2)  The first regulations made for the purpose of subsection (1) must commence on or before 1 January 2010.

             (3)  For the purposes of regulations made under subsection (1):

                     (a)  emissions-intensity is to be assessed in relation to whether the industry-wide weighted average emissions intensity of an activity is above a threshold of:

                              (i)  1,000 tonnes of carbon dioxide equivalent per $1,000,000 of revenue; or

                             (ii)  3,000 tonnes of carbon dioxide equivalent per $1,000,000 of value added; and

                     (b)  assistance to eligible activities is to be set at:

                              (i)  90% of the allocative baseline for activities that have an emissions intensity in the assessment period:

                                        (A)  above 2,000 tonnes of carbon dioxide equivalent per $1,000,000 of revenue; or

                                        (B)  above 6,000 tonnes of carbon dioxide equivalent per $1,000,000 of value added; and

                             (ii)  60% of the allocative baseline for activities that have an emissions intensity in the assessment period:

                                        (A)  between 1,000 tonnes of carbon dioxide equivalent per $1,000,000 of revenue and 1,999 tonnes of carbon dioxide equivalent per $1,000,000 of revenue; or

                                        (B)  between 3,000 tonnes of carbon dioxide equivalent per $1,000,000 of value added and 5,999 tonnes of carbon dioxide equivalent per $1,000,000 of value added; and

                     (c)  the level of assistance to an eligible activity continues to apply to that activity until 2030, unless there is a significant change in circumstances.

[trade exposed activities]

(3)     Schedule 2, item 8, page 13 (line 21), section 38B, omit “The”, substitute “(1) Subject to subsections (2) and (3), the”.

[consequential - trade exposed activities - aluminium industry and food processing industry (sheet 5872)]

(4)     Schedule 2, item 8, page 13 (after line 26), at the end of section 38B, add:

             (2)  If the aluminium production industry is determined to be an emissions-intensive trade-exposed activity in regulations made under subsection 38AA(1), the partial exemption of an aluminium producer is to be calculated to be equal to 90% of the producer’s total acquisition of electricity during the relevant year.

[trade exposed activities - aluminium industry]

(5)     Schedule 2, item 8, page 14 (line 2), omit “ Authority’s ”, substitute “ Regulator’s ”.

[Regulator to manage partial exemptions for trade exposed activities]

(6)     Schedule 2, item 8, page 14 (lines 3 to 15), omit “Authority” (wherever occurring), substitute “Regulator”.

[Regulator to manage partial exemptions for trade exposed activities]

(7)     Schedule 2, item 14, page 15 (line 16) to page 16 (line 33), omit “Authority” (wherever occurring), substitute “Regulator”.

[Regulator to manage partial exemptions for trade exposed activities]