Market activity increased throughout Q3 2021, compared to the previous quarter, with 1.8 million ACCUs traded through 114 transactions (see Figure 1.10). The increase in market activity since the start of the year reflects a mix of accumulation strategies by some account holders; internal transfers within ANREU to package disparate parcels of ACCUs to meet demand by a third party and increased voluntary cancellations.
Figure 1.8: ACCU market transactions (excluding ERF transactions), January 2019 to September 202114
Spot price
Over the quarter, the ACCU spot price increased more than $7 from $19.30 to $26.50 (see Figures 1.11 and 1.12). Prices have continued to rise post quarter reaching $37.00 in early November. On several occasions there has been a step change in price trading off relatively small volumes. The Clean Energy Regulator has and will continue to monitor trades for any potential unusual patterns. The rising spot price provides a signal to the market to invest in new ERF projects to meet anticipated growth from private demand.
Figure 1.9: Historical ACCU spot prices ($AUD), January 2019 to September 202115
Figure 1.10: ACCU spot prices ($AUD), September quarter 202116
Footnotes
14 Estimated demand is comprised of demand from scheduled delivery against Commonwealth contracts as at 30 September 2021 and estimated voluntary demand. Scheduled delivery against Commonwealth contracts include optional delivery contracts. ACCUs contracted against an optional delivery contract may not be delivered to the Commonwealth.
15 Data sourced from
Jarden and TFS Green.
16 Data sourced from
Jarden and TFS Green.