Results in for fifth Emissions Reduction Fund auction
The Emissions Reduction Fund has now secured 189 million tonnes of abatement through 387 contracts.
Competition at the fifth Emissions Reduction Fund auction on 5–6 April was consistent with expectations in a maturing market, with a range of projects across the vegetation, landfill and waste and agriculture sectors successful in bringing forward new abatement. The fifth Emissions Reduction Fund auction, on 5–6 April, has contributed 11.25 million tonnes of abatement to the overall total, with 31 carbon abatement contracts awarded for 38 projects.
The majority of bids at the fifth auction represented value for money, with 84.1% of the volume of abatement offered below the benchmark price accepted. As a result, abatement was purchased through the fifth auction at an average price of $11.82 per tonne. The cumulative average price across all auctions has remained steady at $11.83.
At the fifth auction, the Clean Energy Regulator awarded 31 contracts for 38 projects, committing a total of $133 million. More than $300 million is available for future purchasing activities.
Full results from the fifth Emissions Reduction Fund auction are available on the Clean Energy Regulator’s website, including an updated carbon abatement contracts table and Emissions Reduction Fund project register.
Emissions Reduction Fund auctions results
|Fifth auction||Cumulative total|
|Abatement purchased||11.25 million tonnes||189 million tonnes|
|Average price per tonne||$11.82||$11.83|
|Total committed||$133 million||$2.2 billion|
For more information, email the Clean Energy Regulator or phone 1300 553 542.
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