Draft Clean Energy Bill for Consideration

The Federal Government has released its draft legislation for its proposed carbon pricing mechanism and the implications for businesses are far reaching while the timeframe for submissions to be provided on the draft legislation is very limited.

The Federal Government intends to introduce the Clean Energy Bill in the spring session of Parliament so that it would be passed by the end of 2011. Covered sectors will therefore be required to give urgent consideration before the closing date of 22 August 2011. The draft legislation is similar to the previous CPRS bill with main differences being a higher target emission reduction and no statutory target set for 2020.

There are also minor changes concerning how liability is attributed to each sector and new provisions concerning infringement notices for non-compliance. Overall, the package of the legislation confirms the Government’s policy announcement on the 10 July with relatively few surprises.

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