1. Australian carbon credit units (ACCUs)
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Key messages
- ACCU spot prices increased by more than $7 in Q3 to $26.50 before climbing to $37.00 in early November.
- 6.8 million tonnes of abatement was contracted at an average price of $16.94 under optional delivery contracts at ERF Auction 13.
- ACCU supply in 2021 is up 25% compared to the same period last year with 4.8 million ACCUs issued in Q3.
- Total supply is likely to exceed expectations for 2021 and reach 17.3 million ACCUs.
- The coal mine waste gas variation and the carbon capture and storage method made in Q3 will substantially strengthen supply in the short term.
- Total ACCU holdings in ANREU accounts increased to a record 10.9 million units, up 12% from Q2.
- Project registrations were 67% higher than for the same period last year with 54 registrations in Q3, bringing total new projects for 2021 to 145.
- The ERF surpassed 1000 registered projects on August 26 and the 100 millionth ACCU was issued on September 6.