Baulkham Hills State Liberal MP David Elliott today welcomed the announcement of reforms to the state’s ethanol mandate which will put downward pressure on E10 prices for residents across Baulkham Hills.
The reforms, announced by the NSW Government on Sunday, will help to ensure that E10 is sold at a competitive price, meaning reductions in price for consumers in NSW.
“The NSW Government is committed to creating a competitive biofuels industry in which E10 is a cheap and attractive option for motorists across Baulkham Hills, while maintaining choice among other regular and premium unleaded fuels,” Mr Elliott said.
“Ethanol is an environmentally sustainable source of fuel. Its benefits include reducing our reliance on foreign fuel imports and supporting regional job creation in the manufacturing and agricultural sectors. Data from Roads and Maritime NSW confirms that more than 85% of cars registered in NSW can safely run on E10.
“E10 has the potential to be the most cost effective fuel at the bowser in NSW, but to achieve this we need to get the policy right for both businesses and consumers”, Mr Elliott said.
The proposed reforms include:
- Extending the mandate to service stations which sell three or more types of automotive fuel and enforcing it at the retail level;
- Providing exemptions to SMEs where appropriate;
- Empowering IPART to regulate the wholesale price of ethanol;
- Establishing an online fuel price board that will require all service station operators to report their current retail fuel prices in real-time;
- Implementing an education campaign to inform consumers of the benefits of ethanol and dispel the myths;
- Introducing objective measures to determine ‘reasonable steps’ under the exemptions regime; and
- Amending the Biofuels Act 2007 following industry consultations in early 2016.
Further information about the biofuels mandate, including IPART’s recent reports, is available at www.fairtrading.nsw.gov.au