UPDATE 15/07 - Clive Palmer says he is satisfied with the new legislation and amendment, and has voted with the Government for the bills to pass the Lower House on Monday evening.

The next version of the carbon tax repeal bill will include big fines for energy companies that do not pass savings on to customers.

The stipulation was behind the stalemate on the repeal last week, but Environment Minister Greg Hunt claims it was ironed-out over the weekend.

The sticking point in negotiations last week was an amendment put forward by the Palmer United Party, which originally forced carbon-tax savings reporting requirements on businesses outside electricity and gas providers.

Reports today say the amendment was narrowed following new negotiations, and it will now apply only to about 60 electricity and gas companies.

The change will impose a 250 per cent penalty for not passing on savings.

The Federal Environment minister is buoyant about the chance of climate change legislation being destroyed.

“We will not stop, never stint, never fail in our determination until [the carbon tax] is gone,” he told News Corp reporters.

“We have worked very constructively, very constructively over the weekend to ensure that the concerns about providing additional guarantees over and above what is already in place under the existing $1.1 million fine per incident components of the current legislation are added to,” he said.

“I am very hopeful and expectant that by the end of this week the carbon tax will be gone.”

Labor has continued its push to replace the carbon tax with an emissions trading scheme.

“The carbon price is already working to reduce emissions. We’ve just had the biggest reduction in emissions in a quarter-century in Australia, and that’s in a period in which we’ve just had the hottest summer and the hottest year on record,” Labor assistant treasury spokesperson Andrew Leigh told Sky News.

“Climate records being broken, we’ve got a mechanism that’s already having an impact on reducing Australia’s carbon emissions. Why would you throw that out the window for direct action, an approach which no serious economist thinks will do the job?”

Family First senator Bob Day say indicated he favour the Palmer united Party’s plan for an ETS that only kicks-on when other global government has their system in place.

“If and when all of our major trading partners implement or enact an ETS or some form of emissions trading scheme, well fair enough, we can then join in. But certainly not until then, let’s not do anything at all that’s going to impact our business or prosperity unless the rest of the world does it,” Senator Day told Sky News.