Before bidding in an Emissions Reduction Fund auction, you must first qualify to participate. An application to qualify for an auction also acts as an offer to enter into a carbon abatement contract with the Clean Energy Regulator, on behalf of the Commonwealth of Australia. This is the first step in the auction and contract establishment process.
Auction qualification forms must be completed through the
client portal at least 20 days before an auction. If approved, an auction qualification is valid for 12 months. Generally, you do not need to re-qualify a project to participate at auction during this period—provided there has been no change to the information supplied at the time of the qualification application, and the project has not been varied.
The auction qualification process allows the Clean Energy Regulator to:
To apply for auction qualification you must provide the Clean Energy Regulator with:
The Clean Energy Regulator will assess each auction qualification by determining your ability to deliver the proposed quantity of Kyoto ACCUs from the project, and your past performance with both contracted and non-contracted projects. This may include an assessment of:
To complete our assessment, we may ask you to provide additional information, or invite you to revise the agreed quantity where there are doubts as to your projects capacity to deliver.
As part of your auction qualification application, you must nominate at least one authorised bidder, and at least one authorised representative. You can nominate yourself, an employee in your company or an agent.
An authorised bidder has authority to:
An authorised representative has the authority to provide binding notices on behalf of the seller under the carbon abatement contract that is formed when the bid is successful, without needing to provide their proof of authority each time. Examples of notices include:
An authorised representative can also send, on behalf of the seller, all certificates, consents, approvals, waivers and other communications in connection with the contract.
All auction qualification and authorised bidder forms must be signed by an individual or organisation that has the authority to enter into a carbon abatement contract on behalf of the a seller.
If signatory does not meet the above requirements, applicants must provide evidence such as extracted minutes of a board resolution, a power of attorney, or a letter addressed to the Clean Energy Regulator from a legal counsel to the applicant—confirming they have authority to act on behalf of the applicant for the purposes of entering into a carbon abatement contract.
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The Clean Energy Regulator is a Government body responsible for accelerating carbon abatement for Australia.