Summary

Part of a package of three bills to include non-transport gaseous fuels in the carbon pricing mechanism, the bill amends the:

to: further define the criteria a person must meet to be declared a designated opt-in person; provide for the enforcement of reporting, record-keeping and notification requirements; and provide that emissions from non-transport liquid petroleum gas and liquefied natural gas are brought into the mandatory carbon pricing mechanism from 1 July 2013 and non-transport compressed natural gas from 1 July 2012; to: enable potential greenhouse gas emissions that allow liability to be assigned before the emissions are produced; and nominate the operational control of a facility when it is not clear who has operational control; to: provide that fuel tax credit (FTC) entitlements will not be reduced for business use of non-transport gaseous fuels when they move into the carbon pricing mechanism; and provide that the agriculture, fishing and forestry industries become entitled to an FTC equivalent to the amount of carbon charge embedded in the price of fuel; to: require that regulatory approvals are made during the first reporting period; remove the requirement for the Domestic Offsets Integrity Committee to publish matters incorporated by reference in methodology determinations; and enable methodologies for existing abatement projects to be eligible for backdating; to: enable regulations to restrict or limit the operation of identified registry accounts; and enable the deferment of instructions to transfer certain units; and and to provide for the sharing of relevant and appropriate information between the Clean Energy Finance Corporation, the Australian Renewable Energy Agency and the Clean Energy Regulator.