Australia's move to a clean energy future took another significant step this week, with the nation's major greenhouse gas emitters now required to pay for the pollution they emit under a carbon price
The carbon price, which started on 1 July, means that by 2020, Australia's carbon pollution will be at least 159 million tonnes less per annum than it would be without this policy.
That's the equivalent of taking 45 million cars off the road.
The carbon price will force Australia's biggest polluters to pay for their pollution. It will also create incentives for them to reduce their emissions and invest in clean energy sources such as solar, wind, geothermal and natural gas.
More than half of the revenue raised will assist households with tax cuts, increased family payments and pensions, benefits and allowances. In most cases, this compensation will exceed price rises passed on as a result of the carbon price.
These household payments are currently being rolled out and households who are most affected will continue to receive compensation. These assistance measures are permanent.
The Australian Government is protecting the rights of the consumer. Some businesses may try and make misleading claims about the impact of the carbon price on products. Consumers who have concerns about these issues can contact the ACCC.
The Government is also supporting jobs and competitiveness in industries with high emissions and strong international competition.
Businesses are being provided with a significant amount of assistance to help them manage carbon price impacts, and are being provided with strong incentives to invest in cleaner technologies, underpinning their future competitiveness.
1 July also marked the commencement of other key elements of the Clean Energy Future package, including the Climate Change Authority (CCA) and the Australian Renewable Energy Agency (ARENA).
The CCA will provide independent advice to the Australian Government on the performance of the carbon price and other initiatives.
ARENA will provide grants and financial assistance for projects focusing on renewable energy and energy efficiency technologies to make them more cost competitive
For more information on how the carbon price will affect you, visit www.cleanenergyfuture.gov.au