664Electricity baseline for product

664 Electricity baseline for product

(1) Subject to subclause (2), the electricity baseline for calculating the amount of a liable entity’s exemption in respect of petroleum refining is 0.0421 MWh per kilolitres of: (a) stabilised crude petroleum oil at 15 °C and 1 atmosphere; and (b) condensate at 15 °C and 1 atmosphere; and (c) tallow at 15 °C and 1 atmosphere; and (d) vegetable oil at 15 °C and 1 atmosphere; and (e) eligible petroleum feedstocks at 15 °C and 1 atmosphere. (2) A substance mentioned in paragraphs (1)(a) to (e) may be used for calculating the amount of a liable entity’s exemption for subclause (1) if the substance is, or is to be, refined: (a) by 1 or both of the processes mentioned in paragraphs 662(1)(a) and (b); and (b) into either of the following: (i) 1 or more petroleum products mentioned in paragraphs662 (1)(c) and (d); (ii) other by‑products which result from carrying on the emissions‑intensive trade‑exposed activity; and (c) in the financial year: (i) that applies, for the purpose of subregulation 22ZB(3), to the application made under subsection 46A(1) of the Act; and (ii) in which the combined volume of diesel, jet fuel, unleaded petrol, lubricant base stocks and bitumen, at 15 °C and 1 atmosphere, produced from substances mentioned in paragraphs (1)(a) to (e) is: (A) for new or expected additional production—likely to be equal to or greater than 75% of the total kilolitres of those substances likely to be used in the financial year; or (B) for production that is not new or expected additional production—equal to or greater than 75% of the total kilolitres of those substances used in the financial year.

Note: Condensate, eligible petroleum feedstocks, petroleum oil, stabilised crude and unleaded petrol are defined in regulation 22A.