ShareAustralia to set up a carbon price for HFCs
In September 2011, the Australian Government introduced to the Parliament a set of Bills that aim to cut emissions of greenhouse gases by 159 million tonnes CO2 eq. a year. Included are bills that will introduce a carbon charge on imports of synthetic greenhouse gases – including HFCs – and equipment containing such gases.
On September 13, 2011, the Australian Government introduced to the Parliament a set of Bills that aim to cut emissions of greenhouse gases by 159 million tonnes CO2 eq. a year. Included are bills that will introduce a carbon charge on imports of synthetic greenhouse gases – including HFCs – and equipment containing such gases.
The applicable carbon charge has been fixed at AUD 23 (about € 16.9) per tonne CO2 eq. from July 1, 2012 and will rise by 2.5% each year until July 1, 2015. The price mechanism will then become an emissions trading scheme, in which the price will be determined by the market. This would mean a charge of about € 22 per kg of HFC-134a by July 2012.
The level of the Australian carbon charge is somewhat higher than the HFC tax level in Denmark (€ 17.5/kg of HFC-134a in 2011) but lower than the tax level in Norway (€ 39/kg of HFC-134a) or the proposed tax in Sweden that if introduced would result in a tax of about € 35/kg of HFC-134a.
The applicable carbon charge has been fixed at AUD 23 (about € 16.9) per tonne CO2 eq. from July 1, 2012 and will rise by 2.5% each year until July 1, 2015. The price mechanism will then become an emissions trading scheme, in which the price will be determined by the market. This would mean a charge of about € 22 per kg of HFC-134a by July 2012.
The level of the Australian carbon charge is somewhat higher than the HFC tax level in Denmark (€ 17.5/kg of HFC-134a in 2011) but lower than the tax level in Norway (€ 39/kg of HFC-134a) or the proposed tax in Sweden that if introduced would result in a tax of about € 35/kg of HFC-134a.