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Auction format

28 May 2020

September Emissions Reduction Fund auction dates announced as Clean Energy Regulator calls for feedback on the design of optional delivery contracts

The Clean Energy Regulator is pleased to announce that the next Emissions Reduction Fund (ERF) auction will be held on 9–10 September 2020. We are also inviting stakeholder views on proposed changes to the design of the optional delivery contract under the ERF.

Following the successful pilot at the tenth ERF auction in March 2020, the optional delivery contract will be offered at future auctions, including the auction to be held on 9–10 September this year. Fixed delivery contracts will continue to be offered.

As flagged with the market when the pilot was announced, we are now seeking feedback on the optional delivery contract and proposed changes to some of its design features.

The optional delivery contract and auction guidelines will be updated and released in time for the 9–10 September auction.

How to make a submission

Submissions can be emailed to auctions@cleanenergyregulator.gov.au. Please include the submission coversheet with your submission.

Consultation is open until 5pm, Wednesday 17 June 2020 (AEST).

Downloads

documentasset:Consultation paper: Design of the optional delivery contract under the Emissions Reduction Fund.

documentasset:Submission coversheet.

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 have the best chance of being 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.

Bidding platform

Bids must be submitted through AusTender—an online bidding platform approved by the Clean Energy Regulator.

Auction guidelines

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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