Senate debates

Wednesday, 29 March 2023

Bills

Safeguard Mechanism (Crediting) Amendment Bill 2023; In Committee

5:45 pm

Photo of Jenny McAllisterJenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

There's two questions there. Yes, it is a sliding scale which operates between the standardised expectation of reductions of 4.9 per cent and the minimum of either two or one depending on the category and entity that we're talking about. You asked about the means by which that baseline would be established. Each year the facility would apply, so it would have a forward baseline established for the forward three years, but that would be reassessed the following year, if they wish to.

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