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

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Presentation on theme: "Application of an equivalent carbon price for synthetic greenhouse gases Department of Sustainability, Environment, Water, Population and Communities."— Presentation transcript:

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 – $24.15 in – $25.40 in 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 DateStep 28 July 2011Draft legislation for the Clean Energy Legislative Package released Legislation can be accessed at: August – September 2011 Government considers stakeholder views and decides the final form of the Clean Energy Legislative Package September – November 2011 Legislation considered by Parliament Clean Energy Regulator to be set up promptly after legislation passed Implementation of scheme commences 1 July 2012

8 Legislation (2) Aims from todays 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: energy-legislative-package.aspx) energy-legislative-package.aspx your cover sheet and submission to Or, post your submission to: Carbon Price Legislation Branch Climate Strategy and Markets Division Department of Climate Change and Energy Efficiency GPO Box 854 CANBERRA ACT 2601


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