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Fifth Emissions Reduction Fund auction to be held in April

11 January 2017

​The Clean Energy Regulator will hold a fifth Emissions Reduction Fund auction on Wednesday 5 April 2017 and Thursday 6 April 2017.

With more than $440 million remaining, the agency expects the competitive prices offered at previous auctions will continue.

Clean Energy Regulator Chair Chloe Munro said, "We still have plenty of money to commit and our objective to purchase lowest cost abatement has not changed."

"As we saw at the fourth auction in November last year, there is still a good volume of new abatement on offer and prices remain highly competitive.

"We recognise that the pace of new projects coming forward has steadied to a more sustainable level. We are comfortable with the trend to smaller auctions. Emissions Reduction Fund auctions are now business-as-usual and the market is responding accordingly."

We have also released the guidelines for the fifth auction. The format will remain unchanged on the previous auction with the Clean Energy Regulator retaining flexibility to choose the volume of abatement purchased – between 50 and 100 per cent on offer below the benchmark price.

"At the last auction, we accepted 98 per cent of the abatement on offer under the benchmark price. Market indications are that similarly competitively priced projects will come forward for the fifth auction," Ms Munro said.  

To date, the Clean Energy Regulator has contracted 178 million tonnes of carbon abatement at an average price of $11.83 per tonne.

The Clean Energy Regulator will release the results of the fifth auction within five business days of the auction window closing. ​

Fifth Emissions Reduction Fund auction timeline

ActivityTimeframe​Date
Project registration application deadline30 business days before the auction21 February 2017 (midnight AEDT)
Auction qualification application deadline​20 business days before the auction7 March 2017 (midnight AEDT)
Auction registration application deadlineFive business days before the auction29 March 2017 (midnight AEDT)
​Closing time for declaration of eligible projectsFive business days before the auction29 March 2017 (5pm AEDT)
Auction Window 9am 5 April 2017 to 5pm 6 April 2017 (AEST)
Results released, authorised bidder notified and average price per tonne of abatement publishedBy the end of five business days after auction close13 April 2017​

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