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The Clean Energy Act 2011 has been repealed.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.
The information below applies to reporting obligations under the NGER Act 2008 and obligations under the Clean Energy Act 2011 for the 2012-13 and 2013-14 financial years, including the obligation to report by 31 October 2014 and to acquire and surrender sufficient units by the final surrender deadline of 2 February 2015 or pay a unit shortfall charge.
Liability Transfer Certificates (LTCs) are used to transfer liability for a facility from the facility operator to another member of the corporate group or to a person who has financial control of a facility.
An entity is liable for the emissions of a facility that they do not have operational control over, if they have applied for, and we have issued the entity with, an LTC for the facility.
We were able to issue a corporate group LTC to an entity for a facility if:
- they are a company which is a member of a corporate group
- they are registered as a company, and
- the facility is under the operational control of another member of your corporate group.
We were able to issue financial control LTC to an entity for a facility if:
- the facility is under the operational control of another person
- they have financial control over the facility
- they are not an individual
- they are not a foreign person, and
- they are not in the same corporate group as the person with operational control.