The Clean Energy Regulator has released the draft Emissions Reduction Fund (ERF) auction guidelines. The guidelines include information on –
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auction schedules,
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bidding, suspension and cancellation, and
- participant disqualification.
To participate in an auction, you must enter into a Carbon Abatement Contract
The guidelines are divided into 6 sections:
1. Auction schedule –
- This section provides information on the frequency of auctions.
2. Auction qualification and registration –
- This section summarises the requirements a participant must meet to be able to make a bid at an auction and subsequently secure a contract.
3. Disqualification and obligations of participants and authorised bidders –
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This section identifies reasons why the Clean Energy Regulator may disqualify a participant or authorised bidder from participating in auctions or any other carbon abatement purchasing processes, as defined in the Carbon Credits (Carbon Farming Initiative) Act 2011 (Carbon Credits Act).
4. Auction bidding –
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This section describes the guidelines that will apply to determine whether bids made in an auction are compliant and the criteria the Clean Energy Regulator will use to determine the successful bids
5. Auction suspension and cancellation –
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This section identifies reasons why the Clean Energy Regulator may suspend or cancel an auction that is scheduled or in progress.
6. Auction information publication and timelines –
- This section identifies the auction and contract information that the Clean Energy Regulator may publish as well as the information that will not be published.
Only registered projects will be considered in the contract establishment process.
AEBN Comment
On 13 March 2015, the Australian Environment Business Network (AEBN) will hold the AEBN Carbon Leadership Forum – Understanding Australia’s New Carbon Laws.
The seminar has been designed to provide an all-round perspective from the regulators, leading climate change lawyers, carbon and asset management specialists, industry and energy users, including a market perspective – to assist you in understanding Australia’s new carbon laws and the impacts or opportunities to your business.
Please click for a Program and to Register.
