Second ERF Auction Details Announced

Second ERF Auction Details Announced

The Clean Energy Regulator will hold the second Emissions Reduction Fund auction for carbon abatement contracts in November.

With the first ERF auction in April, the CER awarded 107 Carbon Abatement Contracts worth $660 million. It sold 47 million tonnes of abatement at an average price of $13.95 a tonne.

Announcing the auction on 5 August, Chloe Munro, Chair of the Clean Energy Regulator, said the volume of projects registered in July indicated that the market was ready for a second auction.

“With a growing number of methods available and a large number of new project registrations, we are confident the second auction will attract strong competition,” said Ms Munro.

“We understand that some potential participants will only apply to register their projects after an auction date has been announced. Our message for those that haven’t yet prepared their applications is do not leave it until the last minute,” Ms Munro added.

In this round, the CER has said projects won’t be eligible to participate unless it receives a complete application for project registration at least 30 business days before the auction.

Friday 18 September is the cut-off date to apply for project registration for the November auction. Project applications submitted after this date, or those that require further information to be assessed, will be eligible to qualify for future auctions.

The CER will publish the auction guidelines on Friday 21 August. This document will confirm that the auction format will be similar to the first round. Bidding will be conducted in a single round through AusTender.

Further information and the forms required to register projects to participate in the ERF are on the CER website.

 

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