Senate debates
Monday, 30 November 2009
Carbon Pollution Reduction Scheme Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Consequential Amendments) Bill 2009 [No. 2]; Australian Climate Change Regulatory Authority Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Customs) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Excise) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — General) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]; Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme Amendment (Household Assistance) Bill 2009 [No. 2]
In Committee
4:31 pm
Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source
Senator, one of the propositions the government has put forward is to introduce a no windfall gains policy. You may not have had the opportunity to consider that. If you look at page 2 of the offer document, the government has also committed to:
modify the EITE assistance policy to cap EITE allocations to 100 per cent of an EITE entity’s direct and indirect electricity and steam emissions costs to reduce the likelihood that windfall gains will be provided to EITE industries under the program;
In fact, the new entrants issue that you raise is precisely one of the circumstances that we became mindful of. If an industry is very energy inefficient and a new entrant’s energy efficiency is higher than the industry average, you could have that situation, so we have modified the policy to reflect that.
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