Bill
Clean Energy Finance Corporation Amendment (Grid Reliability Fund) Bill 2020
lapsed, as at 2022-04-11. Industry, Science, Energy and Resources portfolio.
- Sponsor
- Not recorded
- Portfolio
- Industry, Science, Energy and Resources
Recorded stages
- introduced — 2020-08-27
- second reading — 2020-08-27
- second reading — 2021-02-15
- second reading — 2021-02-16
- other — 2022-04-11
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2020-08-27.
This bill would create a $1 billion Grid Reliability Fund to be run by the Clean Energy Finance Corporation.
The fund would be held in a new Special Account and used for investments in energy generation, storage, transmission and grid-stabilising technologies.
Investments from the fund would be exempt from the usual requirement that at least half of the corporation's funds go to renewable energy projects.
- Establishes a $1 billion Grid Reliability Fund through a new Special Account.
- Creates a new investment category for the fund.
- Expands the definition of low-emissions technologies to cover those announced for the fund.
- Allows regulations to prescribe additional investment types for the fund.
- Gives the Clean Energy Finance Corporation new functions to assist Commonwealth agencies with grid reliability policies.
- Exempts fund investments from the 50 per cent renewable energy investment requirement.
The Clean Energy Finance Corporation and energy market participants, including new and smaller generators.
Sources
em
billhome