Gas Industry Company Levy 2011
Overview
The Gas Act enables Gas Industry Co to recommend to the Minister of Energy that regulations be made requiring industry participants to pay a levy to the industry body. The purpose of the levy is to recover the estimated costs of Gas Industry Co exercising its functions as the industry body. It is required to be established each year and there is a new consultation every year to achieve this. The objective of the Levy Arrangements project is to deliver a levy recommendation to the Minister of Energy, sufficient to fund the planned activities of Gas Industry Co in the relevant financial year and ensure that the balance of Industry Advances Reserve account is within acceptable limits.
The purpose of the Statement of Levy Principles is to describe the legislative authority, levy principles and levy structure Gas Industry Co uses when developing its levy recommendation for funding each year, under the levy provisions of the Gas Act 1992. The paper assumes all the topics covered within it have been settled and are agreed to.
Co-regulatory Forum
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Previously Consulted On
Gas Industry Co Levy 2011
The FY2011 Levy Consultation Paper sets the context for the proposed FY2010 levy regulations by describing the work Gas Industry Co expects to undertake in FY2011 and its associated cost; calculates the levy funding requirement for that year; and proposes the FY2011 levy.
The proposed levies for FY2011 are:
Retail levy of $8.20 per annum payable on each ICP; and
Wholesale levy of 2.13 cents per GJ of gas purchased directly from gas producers.
