This regulation may be cited as the Petroleum and Gas (General Provisions) (Annual Fee) Amendment Regulation 2024.
This regulation amends the Petroleum and Gas (General Provisions) Regulation 2017.
3Amendment of s 64 (Fees generally)
Section 64(1)—
omit, insert—(1)The fees payable under the 2004 Act are—(a)as worked out under section 66A; and(b)stated in schedule 2.
4Replacement of s 66A (Annual fee that is proportion of cost of State’s funding commitments to national energy market regulation)
Section 66A—
omit, insert—66AAnnual fee for pipeline licence holder
(1)This section prescribes, for the 2004 Act, section 423(3), the annual fee payable by a pipeline licence holder for a financial year.(2)The annual fee is the amount worked out using the following formula, rounded down to the nearest cent—
where—
A means the annual fee payable by the pipeline licence holder for the financial year.B means the amount, expressed in dollars, of the cost of the State’s funding commitments to combined energy market regulation for the financial year, decided by the MCE.C means the proportion of B, expressed as a percentage, that is attributable to the cost of national energy market regulation for the financial year, decided by the AEMC.D means the number of kilometres of scheme pipeline situated in Queensland at the start of the financial year.E means the number of kilometres of scheme pipeline the subject of the holder’s licence at the start of the financial year.(3)In this section—combined energy market regulation means the functions of the AEMC under the Australian Energy Market Commission Establishment Act 2004 (SA), section 6.MCE see the National Gas (Queensland) Law, section 2.
5Amendment of sch 5 (Dictionary)
Schedule 5, definition annual fee, after annual fee—
insert—, for part 7, division 2,