Method
22ZA Method
Subject to subregulation (3) and regulations 22ZF and 22ZG, the method for calculating the amount of the liable entity’s exemption for the year in relation to the emissions‑intensive trade‑exposed activity and site mentioned in the application under subsection 46A(1) of the Act is:
where:
PE is the amount of the liable entity’s exemption measured in megawatt hours.
i represents the liable entity.
a represents the emissions‑intensive trade‑exposed activity carried on at the site and mentioned in the application.
t represents the year to which the application relates and during which the activity is, or is to be, carried on at the site.
EP is the electricity baseline set out in Division 3 of a Part (other than Part 1) in Schedule 6 in respect of the activity.
ASP is the amount or volume of relevant product produced by the activity as determined under Subdivision C.
kat means 100%.
G is an adjustment for the generation or acquisition of electricity (that does not constitute a relevant acquisition) and is worked out under subregulation 22ZE(1) and expressed as a percentage.
If a liable entity’s exemption calculated for a year in accordance with subregulation (1) is a negative amount, the entity’s exemption for the year is zero.
If there are multiple relevant products for the same emissions‑intensive trade‑exposed activity, the formula in subregulation (1) must be applied to each of those products and the result summed to calculate the amount of the exemption.
This Act’s bill:Explanatory statement
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