The ARENA Repeal Bill 2014 has been tabled in the Australian Parliament. On Monday 1 September the House of Representatives passed the Bill after 32 members of Parliament spoke to it thus paving the way for the Senate to consider the Bill.
Last week the Senate Economics Legislation Committee reported on the Bill and recommended pursuing the repeal of the ARENA Act.
The Bill was directed to the Senate Economics Legislation Committee for inquiry and report when it was first tabled in the Parliament. 132 public submissions were received from various public and private sector organisations, industry associations, academia, students and individuals.
Of these, 129 submissions opposed the repeal of the ARENA Act. The Committee did not conduct any public hearings.
Business as usual for ARENA
In the meantime, ARENA’s initiatives and programs remain open and we continue to assess projects that complement our objective of improving the competitiveness and increasing the supply of renewable energy in Australia.
The Government has provided assurance that all existing contracts will be honoured.
In handing down the 2014 Budget, the Australian Government announced it intends to consolidate ARENA with the Department of Industry and return $1.3B to consolidated revenue – ARENA 2014-15 Budget Statement.