Senate debates
Monday, 7 November 2011
Bills
Clean Energy Bill 2011, Clean Energy (Consequential Amendments) Bill 2011, Clean Energy (Income Tax Rates Amendments) Bill 2011, Clean Energy (Household Assistance Amendments) Bill 2011, Clean Energy (Tax Laws Amendments) Bill 2011, Clean Energy (Fuel Tax Legislation Amendment) Bill 2011, Clean Energy (Customs Tariff Amendment) Bill 2011, Clean Energy (Excise Tariff Legislation Amendment) Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Bill 2011, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Bill 2011, Clean Energy (Unit Shortfall Charge — General) Bill 2011, Clean Energy (Unit Issue Charge — Auctions) Bill 2011, Clean Energy (Unit Issue Charge — Fixed Charge) Bill 2011, Clean Energy (International Unit Surrender Charge) Bill 2011, Clean Energy (Charges — Customs) Bill 2011, Clean Energy (Charges — Excise) Bill 2011, Clean Energy Regulator Bill 2011, Climate Change Authority Bill 2011; In Committee
11:40 am
Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source
I should be clear with Senator Birmingham that in the fiscal tables the revenue from a forward transaction is accounted for in the year in which that transaction is acquitted, so that is the effect on the fiscal balance. That is where it occurs.
Senator Cormann, I think you were asking me—I am sorry, I was a little distracted—how much a particular generator will get under the energy security package. Obviously, I will get some advice on that. We have set out some principles on the allocation of that fund and those principles include the energy intensity of the relevant generator, so there is a finite pool of funding via free permits and cash which is to be allocated. The permits will be allocated by the regulator and the cash will be allocated by the department. I do not think in those circumstances it would be appropriate or probably possible to in fact identify the exact quantum to any particular market participant.
No comments