On Wednesday 15 and Thursday 16 April the Clean Energy Regulator held the first Emissions Reduction Fund auction.
At the first auction:
- the Clean Energy Regulator committed to purchase 47 333 140 tonnes of abatement on behalf of the Commonwealth
- purchasing resulted in an average price per tonne of abatement of $13.95, which is the weighted average price for each Australian carbon credit unit purchased at this auction
- 107 contracts were awarded for 144 projects
- the total value of contracts awarded was $660 million, and
- the largest single contract was for 3.5 million tonnes of abatement and the smallest for 12 000 tonnes of abatement.
The majority of projects that came forward applied under sequestration methods, and landfill and alternative waste treatment methods, and contract lengths range between three and 10 years.
All information on the Carbon Abatement Contracts awarded by the Clean Energy Regulator is found in the Carbon Abatement Contract table.
Summary of first auction results
Download the
Emissions Reduction Fund auction results factsheet for a summary of the results.
Probity assessment of the first Emission Reduction Fund auction
The Clean Energy Regulator engaged Deloitte Touche Tohmatsu (Deloitte) to assess and report on the probity of the first Emission Reduction Fund auction. This included assessing the business processes, separation of roles and responsibilities, and confidentiality of information such as auction bids and abatement volumes.
Deloitte found that the "process was fair and transparent, decisions were made with accountability, and that confidential information associated with the auction was treated appropriately".
Resources for April 2015 auction
This page provides access to documents related to the first auction.
These documents are for use with the April 2015 auction only.