This consultation has now closed.
Overview
We sought the public’s feedback on updates which support the implementation of the Safeguard Mechanism reforms. These updates would:
set international best practice benchmarks for use by new facilities and facilities producing new products
publish remaining production variables and an industry average default value
update production variable definitions so they are suitable for use under the reformed scheme
require the Clean Energy Regulator to publish the methods used by facilities to estimate fugitive methane emissions from coal mining, oil and natural gas sources
introduce the requirement that non-manufacturing facilities calculate their revenue in accordance with the Earnings Before Interest and Tax Guidelines.
We consulted on the exposure draft which would amend the Safeguard Rules to establish these changes.
The reforms to the Safeguard Mechanism commenced on 1 July 2023. These reforms will reduce emissions at Australia’s largest industrial facilities.
