Securing a Clean Energy Future – The Australian Government’s Climate Change Plan was released on July 10, 2011. The plan is designed to transition Australia to a low carbon, clean energy economy through initiatives in four key areas – carbon pricing, renewable energy, energy efficiency, and land management.
Key design elements
- Commencement date of July 1, 2012.
- Fixed carbon price for the first 3 years – $23 in year 1 up to $25.40 in year 3.
- A flexible carbon price will be introduced on July 1, 2015, which will be determined through an emissions trading scheme (ETS)
- Assistance will be provided to businesses and households through a range of mechanisms
- All revenue raised from the sale of carbon permits will be used to encourage investment in clean energy activities and ease the cost burden of transition