On 11 July 2011, the Australian Government announced Australia’s Plan for a Clean Energy Future. The Regulation Impact Statement (RIS) outlines the regulatory considerations and arrangements for a market based pricing mechanism that deals with Australia’s emissions of carbon dioxide and other global warming gases. The Government’s objectives are to respond to climate change, and meet Australia’s international emissions obligations in a flexible and cost effective way.
The RIS contains analysis on a number of regulatory options in relation to: the form of the pricing mechanism; coverage; reporting and compliance; fixed price architecture; transitional arrangements; international linking; taxation arrangements; and governance arrangements.
The RIS was prepared by the Department of Climate Change and Energy Efficiency and has been assessed as adequate by the Office of Best Practice Regulation