Market ready for second Emissions Reduction Fund auction

THE Clean Energy Regulator has announced it will hold the second Emissions Reduction Fund auction for carbon abatement contracts on 4 and 5 November 2015.

“We are making this announcement today as the volume of projects registered in July indicates sufficient market readiness for a second auction,” said Ms Chloe Munro, Chair of the Clean Energy Regulator.

“With a growing number of methods available and a large number of new project registrations, we are confident the second auction will attract strong competition.”

“We understand that some potential participants will only apply to register their projects after an auction date has been announced. Our message for those that haven’t yet prepared their applications is do not leave it until the last minute,” Ms Munro said.

To ensure an orderly process leading up to the auction, the Clean Energy Regulator has decided that projects will not be eligible to participate in the auction unless a complete application for project registration is received at least 30 business days before the auction.

“For the November auction, the cut-off date to apply for project registration is Friday, 18 September 2015. Clients are encouraged to get in early to ensure their applications can be processed in time,” Ms Munro said.

Project applications submitted after this date, or those that require further information to be assessed will be eligible to qualify for future auctions.

The auction guidelines will be published on Friday, 21 August 2015. The guidelines will confirm that the auction format will be similar to the first auction. Bidding will be conducted in a single round through AusTender.

“We are required to provide a minimum of six weeks’ notice before an auction. We have chosen to provide the market with a longer notice period so that participants can be well prepared,” Ms Munro said.

www.cleanenergyregulator.gov.au

 

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