ARTICLE · 29 APRIL 2015

Results are in for the first Emissions Reduction Fund auction

Clayton Utz

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The auction set an average price of avoided greenhouse gas emissions, which should give some guidance for future bidders.

AustraliaEnvironment

Brendan Bateman

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The results of the inaugural Emissions Reduction Fund auction, released yesterday, will give industry some valuable guidance for the next one – which is yet to be announced.

The Clean Energy Regulator announced the auction and methodology in February, and the auction itself ran between 9:00 am AEST on Wednesday 15 April and 5:00 pm AEST on Thursday 16 April 2015.

Although the price per tonne of carbon abatement will no doubt fluctuate in the future, the auction set an average price of $13.95 per tonne of avoided greenhouse gas emissions, which should give some guidance for future bidders.

The ERF auction results at a glance

There are 43 winning bidders, entering into 107 Carbon Abatement Contracts covering 144 projects.

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