The auction format used by the Clean Energy Regulator is a reverse auction. A reverse auction is a type of tendering process used to obtain the best price by encouraging competition among bidders.
In a reverse auction, each participant puts forward a single, confidential bid, during the auction window. The lowest priced bids will be successful at auction, and represent the best value for money for the government. If your bid is successful, you will automatically enter into a
carbon abatement contract with the Clean Energy Regulator.
An independent probity advisor oversees Emissions Reduction Fund auctions, to assess business processes, separation of roles and responsibilities, and confidentiality of information such as auction bids and abatement volumes.
Bids must be submitted through AusTender—an online bidding platform approved by the Clean Energy Regulator.
The Clean Energy Regulator sets a confidential benchmark price for each auction, which determines the maximum amount per Kyoto Australian carbon credit unit we will pay for abatement. Any bid that is higher than the benchmark price for that auction will automatically be excluded from consideration.
Each auction has a unique benchmark price that is not publically disclosed.
The Clean Energy Regulator conducts auctions in accordance with
auction guidelines, released before each auction.
The guidelines provide information about how the auction will be conducted, including information on auction timelines, eligibility, bidding, suspension and cancellation, participant disqualification and published information.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.
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