Australia’s CPRS Bill Update

On October 18 this year, the Coalition called for changes to the proposed CPRS Bill. They continue to advocate an intensity-based cap and trade approach to the electricity sector, stating that this will more than halve the initial increase in electricity prices and reduce the economic costs of achieving emissions cuts.

The fact that the Coalition has made this step suggests that an agreement with the Government on the CPRS may now be more likely, either before or after the United Nations Copenhagen Conference in December 2009.

The Coalition's proposed amendments

The key amendments put forward by the Coalition to the Governments CPRS and the commitments that will be sought by the Coalition are as follows: