1998‑1999‑2000

The Parliament of the
Commonwealth of Australia

THE SENATE

As read a third time

Renewable Energy (Electricity) (Charge) Amendment Bill 2000

No.      , 2000

A Bill for an Act to amend the Renewable Energy (Electricity) (Charge) Act 2000, and for related purposes

ISBN:  0642 464510

Contents
1	Short title	1
2	Commencement	1
3	Schedule(s)	2
Schedule 1—Renewable Energy (Electricity) (Charge) Act 2000	3

This bill originated in the Senate; and, having this day passed, is now ready for presentation to the House of Representatives for its concurrence.
	HARRY EVANS
	Clerk of the Senate
The Senate
8 December 2000 a.m.
A Bill for an Act to amend the Renewable Energy (Electricity) (Charge) Act 2000, and for related purposes
The Parliament of Australia enacts:
1  Short title
		This Act may be cited as the Renewable Energy (Electricity) (Charge) Amendment Act 2000.
2  Commencement
		This Act commences, or is taken to have commenced, immediately after the commencement of the Renewable Energy (Electricity) (Charge) Act 2000.
3  Schedule(s)
		Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Renewable Energy (Electricity) (Charge) Act 2000
  
1  Section 6
Repeal the section, substitute:
6  Rates of charge
	(1)	The rate of charge in relation to the year commencing on 1 April 2001 is $40 per MWh.
	(2)	For any later year, commencing on or after 1 April 2002, the rate of charge is calculated by multiplying the rate of charge for the year before the later year by the following indexation factor:

	(3)	The indexation factor is to be calculated to 3 decimal places, but increased by .001 if the fourth decimal place is more than 4.
	(4)	Calculations under subsection (3):
	(a)	are to be made using only the index numbers published in terms of the most recently published reference base for the Consumer Price Index; and
	(b)	are to disregard indexation numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the reference base).
	(5)	If the indexation factor worked out under subsection (3) would be less than 1, the indexation factor is to be increased to 1. This subsection has effect despite subsection (3).
	(6)	In this section:
CPI quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.
index number means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician.