We have released a consultation paper seeking views on the design elements of an “option to deliver” contract for potential inclusion in the March 2020 Emissions Reduction Fund auction.
See ‘A new approach to contracting under the Emissions Reduction Fund - an option to deliver’ for more information, including information on how to submit feedback.
You can choose the time you would like to take to deliver your Kyoto Australian carbon credit units (ACCUs). This is referred to as the contract term.
There are three options for contract terms:
You choose your contract duration at auction registration, which cannot be altered once set.
The most common standard contract length is seven years. Contracts associated with projects that have a crediting period of 10 years or more can apply for a standard contract length of 10 years.
Partial contracts can cover a portion of a project’s estimated abatement, or cover a portion of the crediting period.
A short-term contract requires multiple Kyoto ACCU deliveries within a period of less than seven years. Contracts associated with projects that have a crediting period of 10 years or more can apply for a short-term contract of less than 10 years.
A project can have a maximum of three short-term contracts associated with it throughout the project’s crediting period. A short term contract may cover part of the project’s abatement within the contracted period.
You can bid at an auction for an immediate delivery contract where the nominated Kyoto ACCUs will be delivered within 10 days of the auction. You can only bid for an immediate delivery contract if you have the required number of Kyoto ACCUs in your Australian national register of emissions units account.
You can have a maximum of 10 immediate delivery contracts per project over the project’s crediting period.
The minimum volume for immediate delivery contracts is at least 10 per cent of the forward abatement estimate for the project supplying the Kyoto ACCUs or 15 000 Kyoto ACCUs (whichever is lower).
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