Advisory report on the Clean Energy Finance Corporation Bill 2012, Clean Energy Legislation Amendment Bill 2012, Clean Energy (Customs Tariff Amendment) Bill 2012 and Clean Energy (Excise Tariff Legislation Amendment) Bill 2012

30 May 2012

© Commonwealth of Australia 2012
ISBN 978-0-642-79691-2 (Printed version)
ISBN 978-0-642-79692-9 (HTML version)

Referral of the Bill
Origins and purpose of the Bills
Clean Energy Legislation Amendment Bill 2012
Clean Energy Finance Corporation Bill 2012
Clean Energy (Customs Tariff Amendment) Bill 2012 and Clean Energy (Excise Tariff Legislation Amendment) Bill 2012
Consultation
Objective and scope of the inquiry
Structure of the report

Clean Energy Legislation Amendment Bill 2012
Gaseous fuels
Commencement of coverage and transitional arrangements
Coverage of non-transport CNG
Off-road use in agriculture, forestry and fisheries activities
Ongoing coverage of gaseous fuels under the fuel tax system
Carbon Farming Initiative
Australian National Registry of Emission Units
Providing information to the Clean Energy Finance Corporation
National Greenhouse and Energy Reporting System
Clean energy customs and excise Bills
Clean Energy Finance Corporation Bill 2012
Key features of the CEFC Bill
CEFC Board and staffing
Financial arrangements
Investment function
Miscellaneous provisions
Discussion on the CEFC
Financial barriers to investment in clean energy
Tenor of Australian debt markets
Availability
Positive spillovers
Minimising market distortions
Benefits to the community
Conclusion

Introduction
Risk to Taxpayers
Failure to Heed Past Lessons
No Legislated Safeguards
Market Distortions
Funding Inferior, Less Efficient Technology
Taxpayers Value
Rate of Return
Overseas funds
Investment mandate
Electricity Prices
Cost to Taxpayers
Arbitrary Start-up Costs
No Impact on the Renewable Energy Target
Undue Political Influence
Lack of Proper Scrutiny