The carbon tax could be repealed as early as Monday night after a deal struck between the government and the Palmer United Party.
The repeal bills were reintroduced to the lower house earlier on Monday after Clive Palmer and the coalition agreed on tougher measures to ensure cuts to electricity and gas prices are passed through to consumers and businesses.
The bills were poised to pass last Thursday, but PUP senators pulled their crucial support over dissatisfaction with the way the amendments were being handled.
The amendments ensure that only electricity and gas retailers and bulk importers of synthetic greenhouse gases are covered by the price guarantees.
The change addresses fears in the business sector that the price guarantees and penalties would affected a wider range of industries.
The government has agreed to a penalty of 250 per cent of any cost savings that are not passed on.
While bulk importers of synthetic greenhouse gases are included, the laws won't apply to importers of fridges, cars and air conditioners.
Mr Hunt said the Australian Competition and Consumer Commission would be able to expand the range of sectors covered "should any concerns arise" about prices.
"Every Australian should be better off," he told parliament.
Repeal hits budget
The abolition of the carbon tax will cost the federal budget almost $1 billion more than the coalition forecast at the September election.
The carbon tax repeal legislation introduced to the lower house on Monday included a table listing its impact on the budget.
It's now estimated the repeal will take $6.931 billion out of the budget in net fiscal terms, instead of the $6.048 billion projected in the coalition's election costings.
Revenues will fall by $13.7 billion over the forward estimates, but $6.778 billion in spending could be cut from business and energy market compensation, land initiatives and "unnecessary bureaucracies".
House of Representatives vote fast-tracked
Leader of the House Christopher Pyne moved to gag debate saying the Australian people had decided in September they did not want the carbon tax.
Mr Pyne expects the bills to pass the lower house on Monday after the government "agreed with crossbench members in this house and the Senate".
It would then be dealt with "expeditiously" in the Senate, he said.
Labor frontbencher Anthony Albanese said it was curious the amendments had come from PUP and not cabinet or the coalition party room.
"This is a case of the PUP, wagging the tail, wagging the dog," he said.
Labor environment spokesman Mark Butler said the government's management of parliament had been chaotic.
"This government couldn't arrange a pig to be dirty," he said.
Labor will attempt to amend the bills to establish an emissions trading scheme.
"Any serious policy solution to climate change must include an emissions trading system," Labor leader Bill Shorten said.
"This is where the world is heading."
The coalition will need six crossbench votes on top of its 33 senators to repeal the tax.
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