Carbon pricing mechanism repeal
The Clean Energy Act 2011 has been repealed. This abolishes the carbon pricing mechanism from 1 July 2014. Liable entities must still meet their carbon price obligations for the 2013-14 financial year.
Content on the Clean Energy Regulator website will be progressively updated to reflect these changes. More information can be found on the carbon pricing mechanism repeal page.
At present, two carbon markets exist in Australia: the voluntary carbon market, which provides for participants who make voluntary commitments to offset carbon emissions and the compliance market, where certain entities (liable entities) must surrender one eligible carbon unit for each tonne of carbon dioxide equivalent emissions that they have produced in that year. Liable entities can use Australian carbon credit units to meet their obligations under the carbon pricing mechanism.
The Government has announced details on the repeal of the Clean Energy Act 2011. Further information on the repeal of the Clean Energy Act and the design of the Emissions Reduction Fund is available on the Department of Environment’s website.
Any enquiries regarding the repeal of the carbon price should be referred to:
email@example.com or 1800 057 590.
For more information