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More than $440m available at fifth auction

16 March 2017

​The fifth Emissions Reduction Fund auction will take place on 5–6 April 2017 presenting an excellent opportunity to secure a carbon abatement contract.

Clean Energy Regulator Chair, Ms Chloe Munro, said the rush of new projects coming forward has subsided as the market matures and transitions to more sustainable levels.

"The rate at which projects were registered and contracted in the first two years of the scheme exceeded all expectations."

"After these early blockbusters, we expect this auction to be smaller and more representative of business as usual," Ms Munro said.

More than $440 million remains available for this auction and future purchasing processes. With new methods coming on line later this year, there will be new opportunities for participation from different parties.

The Clean Energy Regulator expects prices put forward at this auction to be in line with previous auctions.

"At current prices we have sufficient remaining funds to purchase large volumes of abatement," Ms Munro said.

The fifth auction will continue as pay-as-bid, sealed-bid auction format and honour the purchasing principles outlined in the Act.

"Each auction is a little different, with a changing mix of competitors and price points. We have encouraged all participants who missed out previously to bring their project forward for this auction," Ms Munro said.

To date, the Emissions Reduction Fund has secured 356 contracts to deliver more than 178 million tonnes of abatement from 397 projects. Currently 665 projects are registered under the Emissions Reduction Fund.

Registration to participate in the fifth auction closes at midnight on 29 March 2017 (AEDT).

Information for journalists​

All media enquiries and interview requests must be submitted in writing to the Clean Energy Regulator to receive a response. Submit your requests to media@cleanenergyregulator.gov.au.​

For more information about the fifth auction, see Planning for an auction.

For more information on all projects, see the Interactive Emissions Reduction Fund map​.

About the Emissions Reduction Fund

The Emissions Reduction Fund is a voluntary scheme that aims to provide incentives for a range of organisations and individuals to adopt new practices and technologies to reduce their emissions. It is enacted through the Carbon Credits (Carbon Farming Initiative) Act 2011, the Carbon Credits (Carbon Farming Initiative) Regulations 2011 and the Carbon Credits (Carbon Farming Initiative) Rule 2015.

A number of activities are eligible under the scheme and participants can earn Australian carbon credit units (ACCUs) for emissions reductions. One ACCU is earned for each tonne of carbon dioxide equivalent (tCO2-e) stored or avoided by a project. ACCUs can be sold to generate income, either to the government through a carbon abatement contract, or in the secondary market.

To ensure these emissions reductions are not displaced significantly by a rise in emissions elsewhere in the economy, the Emissions Reduction Fund also includes a safeguard mechanism, which encourages large businesses to keep their emissions within historical levels.

See more information about the Emissions Reduction Fund​


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