Carbon pricing mechanism repeal
The Clean Energy Act 2011 has been repealed. This abolishes the carbon pricing mechanism from 1 July 2014. Liable entities must still meet their carbon price obligations for the 2013-14 financial year.
Content on the Clean Energy Regulator website will be progressively updated to reflect these changes. More information can be found on the carbon pricing mechanism repeal page.
The Australian National Registry of Emissions Units (ANREU) is a secure electronic system designed to accurately track the location and ownership of carbon units issued under the carbon pricing mechanism.
Carbon units are only issued into ANREU accounts. This means anyone wishing to hold, transfer or surrender units under the carbon pricing mechanism must have an ANREU account.
An ANREU account is also required to receive free carbon units under the Jobs and Competitiveness Program, as well as for transactions of Australian Carbon Credit Units (ACCUs) issued under the Carbon Farming Initiative and emissions units issued under the Kyoto protocol.
While it is not compulsory to have an ANREU account, you will not be able to acquire or surrender units without an account and will only be able to pay a unit shortfall charge to acquit your liability.
For more information, see opening an ANREU account.