The Australian Renewable Energy Agency (Repeal) Bill 2014 was introduced into the House of Representatives today. The Senate has simultaneously referred the Bill to the Senate Economic Legislation Committee for review and report by 4 September 2014.
The Bill seeks to close ARENA by repealing the Australian Renewable Agency Act 2011. The purpose of the repeal is to abolish ARENA and transfer the Agency’s commitments to the Department of Industry.
Any changes to the ARENA Act, including its repeal, need to be passed by both the House of Representatives and the Senate.
It is expected the Bill will be debated and voted upon in the House of Representatives next week. Senate consideration will not commence until the Bill is passed by the House of Representatives, and the Senate Economic Legislation Committee has provided its report.
Regardless of the outcome, the Government has committed to support more than 180 projects, worth close to $1 billion, that already have funding agreements in place with ARENA.
In the meantime, ARENA is continuing to perform its functions under the ARENA Act, including accepting and assessing applications.
ARENA’s Emerging Renewables Program (including the SHARE initiative) and the Accelerated Step Change Initiative remain open. Proponents should take into consideration the Australian Government’s announced funding changes when developing applications for funding from ARENA.
ARENA 2014-15 Budget statement – 13 May 2014