Summary

Introduced with the Fuel Security (Consequential and Transitional Provisions) Bill 2021, the bill: establishes a minimum stockholding obligation for corporate entities that undertake certain activities (broadly, importing and refining) in relation to certain transport fuels to hold a minimum quantity of those fuels nationally; and enable a production payment for refinery operators (referred to as a fuel security services payment) to provide an adjustable cent per litre payment to refineries in return for a commitment to continue refining until at least 30 June 2027.