Prime Minister Julia Gillard said there would be a fixed price of carbon, global warming, starting next year before an emissions trading system was introduced in 2015.
Under the scheme, to begin July 1, 2012, about 500 of the largest polluters in Australia pay a fixed price, which starts at AUS $ 23 per tonne for their emissions of carbon dioxide in the first three years.
The mechanism would then pass through an emissions trading system with a variable price set by the market. The government set a floor price and ceiling for at least the first three years to avoid price shocks.
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