There are two types of contracting options available under the Emissions Reductions Fund. The standard Fixed Delivery contract and the Option to Deliver contract.
Before deciding whether to participate in an Emissions Reduction Fund auction, you should read and understand the auction guidelines for both forms of contract:
You should also familiarise yourself and understand the
Documentasset: Code of Common Terms – version 3 and the
Documentasset: Option to Deliver – Code of Common Terms for the two carbon abatement contract types.
You may wish to seek legal or other advice to determine whether you wish to participate in an auction and which contract type best suits your needs. It is important to do this in advance of the auction as you will automatically enter into a carbon abatement contract with the Clean Energy Regulator on behalf of the Commonwealth of Australia if you supply a bid and it is accepted.
Once you have decided to participate in an auction there are four key steps:
Tenth Emissions Reduction Fund auction
The Clean Energy Regulator held the tenth Emissions Reduction Fund auction on Wednesday 25 and Thursday 26 March 2020.
The
Documentasset::Guidelines for the tenth Emissions Reduction Fund auction, and the
Documentasset: Auction Guidelines: Option to Deliver contracts provides information on how it was conducted.
Timeline for the tenth auction
| Key events | Timeline | Date |
|---|
|
Project registration application deadline | 30 business days before the auction | Monday 10 February 2020 (midnight AEDT) |
Auction qualification application deadline*
| 25 business days before the auction | Monday 17 February 2020 (midnight AEDT)
|
|
Auction registration application deadline | Five business days before the auction | Tuesday 17 March 2020 (midnight AEDT)
|
| Closing time for declaration of eligible projects | Five business days before the auction | Tuesday 17 March 2020 (midnight AEDT) |
| Auction window | | Wednesday 25 March 2020 (9am AEDT)
Thursday 26 March 2020 (5pm AEDT) |
| Results released, authorised bidder notified and average price per tonne of abatement published | | Friday 3 April 2020 |
*New applicants to the scheme who are party to a trust or company may be subject to third party assessment and should submit their auction qualification prior to the deadline to maximise the time available if further information is required.