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Glossary and abbreviations

2014–15The financial year from 1 July 2014 to 30 June 2015.
ACCUAustralian carbon credit unit
benchmark pricethe maximum amount Clean Energy Regulator would pay for emissions reductions at an auction
carbon dioxide equivalent CO2eA measure of greenhouse gas emissions. Carbon dioxide equivalence is estimated by multiplying the amount of gas by the global warming potential of the gas.
controlling corporationAn entity that must register and report under the National Greenhouse and Energy Reporting Act 2007, as defined in section 7 of the Act.
creditingparticipants receive one ACCU for each tonne of CO2-e stored or avoided through registered Emissions Reduction Fund projects
EAPemployee assistance programme
Energy Security FundEnergy Security Fund Coal Fired Generators Assistance—Free Carbon Units scheme
Kyoto unitEmissions trading units defined under the Kyoto Protocol of the United Nations Framework Convention on Climate Change.
petajoulesA petajoule is a standard unit of energy. For electricity, one petajoule equals 277.78 million kilowatt hours.
primary marketThe issuance of units or certificates by the Clean Energy Regulator directly to participants.
purchasingthe Clean Energy Regulator purchasing ACCUs from participants who hold a contract, through an auction process
REC RegistryRenewable Energy Certificate Registry
safeguardinga mechanism designed to ensure that emissions reductions are not overcome by significant emissions increases above business-as-usual levels elsewhere in the economy
scope 1 emissionsThe release of greenhouse gas into the atmosphere as a direct result of an activity or series of activities (including ancillary activities) that constitute the facility. For example, the emissions produced when coal is burned at a power station are scope 1 emissions.
scope 2 emissionsThe release of greenhouse gas into the atmosphere as a direct result of one or more activities that generate electricity, heating cooling or steam that is consumed by the facility but that do not form part of the facility.
secondary marketThe market for units or certificates issued by the Clean Energy Regulator that occurs between two entities not including the Clean Energy Regulator.
section 24(1) determinationA legislative instrument made by an authorised person, under section 24(1) of the Public Service Act 1999,which sets out terms and conditions of employment. A determination may apply to an individual employee or a group of employees.
STC Clearing HouseSmall-scale Technology Certificate Clearing House

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