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Clean Energy Future Announcement

Application of an equivalent carbon price for synthetic greenhouse gases Department of Sustainability, Environment, Water, Population and Communities. Clean Energy Future Announcement. 10 July 2011 – release of Climate Change Plan

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Clean Energy Future Announcement

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  1. Application of an equivalent carbon price for synthetic greenhouse gases Department of Sustainability, Environment, Water, Population and Communities

  2. Clean Energy Future Announcement 10 July 2011 – release of Climate Change Plan • Hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) (not from aluminium smelting) and sulfur hexafluoride (SF6) will face an equivalent carbon price • The equivalent carbon price will be administered under the ozone protection and synthetic greenhouse gas legislation • Equivalent carbon price will be adjusted annually to reflect the prevailing carbon price (and based on the GWP of each gas) • Incentives will be provided for destruction of waste SGGs and ODS, from 1 July 2013

  3. Fixed Price Period • Equivalent carbon price commences with a three year fixed price period • $23.00 in 2012-13 • $24.15 in 2013-14 • $25.40 in 2014-15 • After 1 July 2015, the carbon price will be the benchmark average auction charge

  4. What are the proposed changes to the Synthetic Greenhouse Gas legislation? • Import/Manufacture levies are amended for bulk SGGs and equipment containing SGGs • levy charged at prescribed rate ($165 per tonne) + equivalent carbon price, based on the GWP of the gas • Perfluorocarbons (PFCs) and sulfur hexafluoride (SF6) will be included • The scope of pre-charged equipment expanded to include all equipment containing a SGG • provide for equipment or products to be exempted by Regulation

  5. Proposed changes to the SGG legislation (2) • Levy offsets for exports of SGGs, in bulk or in equipment • Reporting period will remain 15 days after the end of the quarter • Levy payment extended from 15 to 60 days after the end of the quarter • carbon price component will go to consolidated revenue • Exemptions for some imported equipment defined as a personal effect • for example – private motor vehicles, refrigerators, freezers

  6. Proposed Destruction Program • Incentives will be provided for destruction of waste SGGs and ozone depleting substances, recovered at end of life • Payment will be made after verification of destruction of the gas • Program will be developed in consultation with industry • Program will start 1 July 2013.

  7. Legislation

  8. Legislation (2) • Aims from today’s discussion is to seek your comments • Please include any comments in your submission back to DCCEE by 22 August 2011 • We are seeking technical comments on the draft legislation only, and how it reflects the broader policy objectives • How to make a submission • Complete a submission cover sheet (found here: http://climatechange.gov.au/government/submissions/clean-energy-legislative-package.aspx) • Email your cover sheet and submission to cleanenergybills@climatechange.gov.au • Or, post your submission to:Carbon Price Legislation BranchClimate Strategy and Markets DivisionDepartment of Climate Change and Energy EfficiencyGPO Box 854CANBERRA ACT 2601

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