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13th Emissions Reduction Fund Auction announced

16 July 2021

We are pleased to announce that the 13th Emissions Reduction Fund (ERF) Auction will be held on 13 and 14 October 2021.

2021 has seen the continued growth and success of the ERF with more individuals and organisations getting on board to diversify their income and reduce emissions. Auction 12 awarded new contracts worth in excess of $108 million to support a wide range of projects across the economy with over $2 billion now committed to projects in rural and regional areas.

The market for Australian carbon credit units (ACCUs) is robust with a high level of existing supply and an expanding pipeline of supply on the way. The March Quarterly Carbon Market Report showed total private ACCU holdings of 7.8 million units. The registration of ERF projects has doubled in the first six-months of 2021 compared to the same time last year. The registration of new projects and the associated volume of abatement is expected to continue to climb with new methods open for consultation and a crediting period extension under the landfill gas method.

The 13th ERF Auction can provide you with an opportunity to secure a Commonwealth contract for your ACCUs with a variety of contracting options available, including both fixed or optional delivery contracts. You can also secure a long-term contact to underpin your project, or a short-term contract to sell ACCUs you may have on hand to boost your cash-flows.

Register your project now

If you do not yet have a registered project and are interested in participating, now is your chance. Register your project before the 25 August 2021 deadline by submitting a project registration application.

We encourage you to submit your application early to ensure that any questions we may have can be addressed before the auction.

Read the relevant project methodology to help you with your project registration. You can use our interactive questionnaire to find out if your project is eligible to participate in the ERF.

Consider the contract that best suits you

This auction continues to offer the flexible contracts in the form of Optional Delivery and Fixed Delivery contracts.

You can also choose to take up an immediate delivery contract or a partial contract that covers a proportion of your project’s ACCUs. This can include long-term contracts or contracts with durations as little as a month to sell existing ACCUs or ACCUs expected in the near-term.

With the two contract types, a range of contract durations and choice in how many ACCUs you wish to cover with a Commonwealth contract, you can tailor your contract to best suit your needs.

Key dates

Project registration application deadlineWednesday 25 August 2021 (12:01 am)
Auction qualification application deadline Monday 6 September 2021 (12:01 am)
Auction registration application deadlineTuesday 5 October 2021 (12:01 am)
Closing time for declaration of eligible projectsTuesday 5 October 2021 (12:01 am)
Auction window Wednesday 13 October 2021 (12:01 am)
Thursday 14 October 2021 (5:00 pm)

* All times are given as local time in the Australian Capital Territory. Please note that as of 3 October 2021, ACT time will be set one hour forward as per Daylight Savings.

What’s next?

If you’re interested in participating in the auction, please familiarise yourself with the 13th Auction Guidelines (out soon), submit the relevant project and auction applications in accordance with the timeline for the 13th Auction and bid competitively.

Whether you are a landholder or a large firm, for more information you can visit participate in the next auction or contact us.

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