“GGAS was one of the world’s first emissions trading schemes for reducing carbon pollution. The Government recognizes the importance of ensuring a smooth transition from GGAS to the CPRS for affected entities,” Senator Wong said.
After careful consideration the government has concluded that the vast majority of projects operating under GGAS will not be adversely affected by the transition to the CPRS.
However, some waste coal mine gas, landfill gas and avoided methane generators, and holders of unused NSW Greenhouse Gas Abatement Certificates (NGACs) may be adversely affected.
In addition to including waste coal mine gas in the Renewable Energy Target passed by the Parliament last month, the Government will provide cash assistance of $130 million to landfill gas and avoided methane generators and holders of unused NGACs.
“The transition package helps to ensure these entities continue to remain viable and able to make a valuable economic and environmental contribution to Australia,” Senator Wong said.
The government committed in the CPRS White Paper to work with the New South Wales and ACT Governments on transitional arrangements for GGAS participants.
Details relating to the allocation and distribution of the cash assistance to affected entities will be finalized in consultation with the New South Wales Government and announced in the near future.
