New South Wales seeking public comment on monitoring ethanol markets
Under the Biofuels Act 2007, a fuel retailer may be exempt from complying with the ethanol mandate if the price at which they purchased ethanol exceeds the wholesale price determined by IPART. IPART currently determines a wholesale price for ethanol based on an estimated import price.
IPART Chair Peter Boxall said IPART’s methodology for setting the wholesale price was applied from 1 January 2017 following extensive consultation. It is intended to avoid distorting the wholesale ethanol market and support the development of further competition in ethanol production.
A paper released by IPART seeks feedback on a range of issues to be considered as part of the review and is seeking feedback until September 10, 2018.
IPART will release a draft report on its findings in October 2018 and will seek submissions before providing a final report to the Minister for Innovation and Better Regulation by December 2018.
Category: Fuels