The Safeguard Mechanism has been reformed following a
consultation process undertaken by the Department of Climate Change, Energy, the Environment and Water.
New obligations and reporting requirements apply to Safeguard facility financial years commencing on or after
1 July 2023:
The following information has been published in line with the
National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015 prior to commencement of the new arrangements.
New data publishing requirements will apply from
1 July 2023. See
Safeguard data for more information.
Under section 65 of the
National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015 (Safeguard Rule), responsible emitters may apply for a multi-year monitoring period (MYMP) to be declared in relation to a facility.
Where a MYMP has been granted, the baseline emissions number for the facility is calculated as a single baseline number that applies across the entire MYMP. At the end of the period, aggregate covered emissions for the 2 or 3 year period (plus or minus any Australian carbon credit units (ACCUs) issued or surrendered) are compared against this baseline number to determine whether the facility is in an excess emissions situation.
Note that in response to the coronavirus (COVID-19) pandemic, amendments were made in May 2020 to the
National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015. This includes allowing responsible emitters to opt-in to extend a MYMP that ceased on 1 July 2020, by one year.
Lower estimate: 385,296
Upper estimate: 577,945
The above estimate does not equate to an estimate of current demand for ACCUs at a given point in time. The number of ACCUs surrendered will include ACCUs that are already held by responsible emitters or covered by Australian Carbon Credit Unit (ACCU) Scheme contracts already in place.
We are required to publish an estimate of the total number of ACCUs likely to be surrendered by facilities with MYMPs during the next 3 years.
Preparation of the estimate is based predominantly on information provided by responsible emitters in applications. It should be viewed as indicative only.
The estimate has been derived by summing any estimated exceedances for facilities with MYMPs that end over the period up to 30 June 2023, not including ACCUs already surrendered from completed MYMPs in the 2020-21 financial year.
The table below is a list of all MYMPs and details of the facilities they relate to.
For the full data table, please download
documentasset:Safeguard multi-year monitoring period table.
In response to the coronavirus (COVID-19) pandemic, amendments were made in May 2020 to the Safeguard Rule. This includes allowing responsible emitters to opt-in to extend a MYMP that ceases on 1 July 2020, by one year. As a result, this table has ‘Year 4’ columns to reflect information for facilities that chose to use the extension. This measure is only in place for 2020-21.
The Year 1, 2 and 3 'Covered emissions' and 'Baseline number' columns will be updated each year to reflect the numbers that would apply to each facility if the MYMP did not exist. The 'Covered Emissions (Cumulative)' column will be updated each year to reflect the total covered emissions for the facility, over the MYMP. Prior to the end of a MYMP, these columns can be used to follow a facility's progress across the MYMP but cannot be used to determine whether the facility has exceeded its baseline.
For example, in the second year of a 3-year MYMP, the 'Covered Emissions (Cumulative)' column will be the sum of the Year 1 and 2 'Covered emissions' columns. The facility will still have another year's emissions to be added to see whether the facility meets its obligations.
The 'MYMP net emissions number' is the total covered emissions from the facility over the entire 2 or 3 year period, plus or minus any ACCUs issued or surrendered over the period. This column will show as 'n/a', until the MYMP has been completed.
Where a MYMP has been granted, the baseline for the facility is calculated by dividing the total of the baselines that would apply to the facility in each year of the MYMP, by the total number of days in the MYMP. This single baseline applies to the 2 or 3 year period. The 'MYMP baseline number' column will show as 'n/a', until the MYMP has been completed. Note that due to 2019-20 being leap year, all 2019-20 baselines are adjusted to include the additional day.
At the end of the monitoring period, the 'MYMP net emissions number' is compared against the 'MYMP baseline number' to determine whether the facility is in an excess emissions situation.
At the end of a MYMP, the 'MYMP status' will be marked as 'Complete'.
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