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Planning for an auction

28 August 2017
02 March 2015
ERF

Contents

Sixth Emissions Reduction Fund guidelines

The Clean Energy Regulator will hold the sixth Emissions Reduction Fund auction on Wednesday 6 and Thursday 7 December 2017.

The documentasset::Guidelines for the sixth auction provides information about how it will be conducted.

For key dates for the upcoming auction see Planning for an auction.

Timeline for the sixth auction

Activity​Timeframe​Date
Project registration application deadline30 business days before the auction25 October 2017 (midnight AEDT) 
Auction qualification application deadline​20 business days before the auction8 November 2017 (midnight AEDT)
Auction registration application deadlineFive business days before the auction29 November 2017 (midnight AEDT)
​Closing time for declaration of eligible projectsFive business days before the auction 29 November 2017 (5pm AEDT)
Auction window 
9am 6 December 2017 to 5pm 7 December 2017 (AEDT)
Results released, authorised bidder notified and average price per tonne of abatement publishedBy the end of five business days after auction close14 December 2017

Steps to participate in an auction

To participate in an auction you must complete the following steps:

  • Auction qualification – You must apply to qualify to participate in Emissions Reduction Fund auctions in relation to a registered project/s. This step establishes the commercial terms of the contract that will be entered into if your bid is successful.
  • Auction registration – You must apply to register to participate in an Emissions Reduction Fund auction in relation to the registered project/s specified in your auction qualification application. This step establishes the delivery terms of the contract that will be entered into if your auction bid is successful.
  • Auction bid - If you qualify and register for an auction, you must submit an auction bid through the auction bidding platform. This step establishes the financial terms of the contract that will be entered into if your auction bid is successful.

What you need to do

Well before the auction

Before you participate in an auction:

At least six weeks before an auction – complete project registration

Consider your business model and bidding strategy. Some things to consider include:

No later than twenty business days before auction – complete auction qualification

No later than five business days before auction – complete auction registration

Submit an auction registration application through the Client Portal

  • the total quantity of Australian carbon credit units (ACCUs) to be delivered under the contract
  • the delivery period (that is, the period over which you will deliver the abatement)
  • the dates that ACCUs are to be delivered (your delivery schedule​), and​
  • the quantity of ACCUS to be delivered by those dates. 
  • Prepare yourself for the auction by: 

On auction day(s) – submit an auction bid

Note the auction bidding platform and process will be advised to auction participants by email prior to the auction.

The best strategy to succeed at auction is to price your project realistically and to bid the lowest price at which it is worth your while to undertake the project.

Five business days after auction closes

Participants who have made successful bids will be notified of the acceptance of their offers by the Clean Energy Regulator and their contracts will automatically commence. Unsuccessful participants will also be notified.

After all participants have been notified the Clean Energy Regulator will publish auction results which will include:

  • total volume of abatement to be delivered by the successful bidders
  • average price per tonne of abatement, and
  • for each successful bid:
    • name of the contractor
    • project(s) covered by the contract
    • volume of abatement committed under the contract
    • duration of the contract. ​

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