The Clean Energy Regulator (CER) has released new rules for the forthcoming Emissions Reduction Fund (ERF) auction.
The auction guidelines outline information about how the auction, set for 4-5 November, will be conducted. The auction will continue as a pay as bid, sealed bid format, and include a new variable volume threshold to determine successful auction bids. The threshold means the CER can buy between 50 and 100 per cent of the volume of abatement offered at auction below the benchmark price.
Bidding will be conducted in a single round through AusTender.
CER also released an updated code of common terms, the basis of carbon abatement contracts, which all participants must accept to be eligible to take part in this auction.
The CER will post auction qualification and registration forms on the client portal.
For more details see the Waste Management Review article.