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Wednesday, 19 September 2012
Page: 11164

Mr COMBET (CharltonMinister for Industry and Innovation and Minister for Climate Change and Energy Efficiency) (09:34): I move:

That this bill be now read a second time.

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

At present the equivalent carbon price imposed on the import of synthetic greenhouse gases after 1 July 2015 is based on the benchmark average auction charge.

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 synthetic greenhouse gas legislation so that the per-tonne carbon price equivalent is applied to the import of synthetic greenhouse gas, instead of the benchmark average auction charge.

I commend the bill to the House.

Debate adjourned.