Josh Wilson (Fremantle, Australian Labor Party) Share this | Hansard source

I move:

That this bill be now read a second time.

I am pleased to introduce the Future Made in Australia (Guarantee of Origin Consequential Amendments and Transitional Provisions) Bill 2024.

This bill supports the operation of the Guarantee of Origin scheme being established under the Future Made in Australia (Guarantee of Origin) Bill 2024.

The Guarantee of Origin scheme will provide the emissions accounting backbone to support the development of Australia's low-emissions industries and to succeed the accreditation and certification scheme provided under the Renewable Energy Target arrangements, which come to an end in 2030.

The independent Clean Energy Regulator will be responsible for administering the Guarantee of Origin scheme.

Their relevant knowledge and experience, including through the existing Small-scale Renewable Energy Scheme and Large-scale Renewable Energy Target, will ensure the efficient establishment and administration of the Guarantee of Origin scheme.

This bill makes minor, technical amendments relevant to the functions of the Clean Energy Regulator—namely, changes that are proposed for the:

The bill updates the Clean Energy Regulator Act to provide authority for the regulator to perform functions for the Guarantee of Origin scheme, as outlined in the Future Made in Australia (Guarantee of Origin) Bill 2024. This ensures that existing administrative powers and obligations on the regulator are maintained for the new scheme.

Audits are a core assurance mechanism within the Guarantee of Origin framework and will perform a key role in effective implementation of the scheme. They ensure the scheme operates with integrity so that certificate information can be trusted.

The National Greenhouse and Energy Reporting Act will be amended to extend its existing audit framework to include audits for the Guarantee of Origin scheme.

The bill also makes consequential amendments to the Renewable Energy (Electricity) Act to ensure certification of electricity from energy storage systems is consistent with the guarantee of origin bill. These changes reflect the critical and growing role of battery storage in today's electricity market, and make sure that renewable electricity in these systems can be appropriately certified.

The amendments in this bill will ensure the timely commencement of the Guarantee of Origin scheme, which in turn means that Australian companies will start benefiting as soon as possible from the opportunities that the scheme provides.

Debate adjourned.

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