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Second Reading Speeches

Fuel Security Bill 2021

Type
Government
Portfolio
Industry, Science, Energy and Resources
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Introduced with the Fuel Security (Consequential and Transitional Provisions) Bill 2021, the bill: establishes a minimum stockholding obligation for corporate entities that undertake certain activities (broadly, importing and refining) in relation to certain transport fuels to hold a minimum quantity of those fuels nationally; and enable a production payment for refinery operators (referred to as a fuel security services payment) to provide an adjustable cent per litre payment to refineries in return for a commitment to continue refining until at least 30 June 2027.