Results in for seventh Emissions Reduction Fund auction

The Emissions Reduction Fund has now purchased 192 million tonnes of abatement through 429 contracts.

The seventh Emissions Reduction Fund auction, from 6–7 June, has contributed 6.67 million tonnes of abatement to the overall total, with 32 carbon abatement contracts awarded for 32 projects worth $90 million.

Competition at the seventh Emissions Reduction Fund auction from 6–7 June was consistent with expectations in the current market, with projects across the land and commercial sectors successful in bringing forward new abatement.

In the seventh auction, 83 percent of the volume of abatement offered below the benchmark price was accepted at an average price of $13.52 per tonne. The cumulative average price across all auctions has remained steady at $11.97.

Almost $250 million remains available for future purchasing activities.

Full results from the seventh 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

	Seventh auction	Cumulative total
Abatement purchased	6.67 million tonnes	192 million tonnes
Average price per tonne	$13.52	$11.97
Total committed	$90 million	$2.3 billion
Total contracts	32	429
Total projects	32	461

For more information, please email the Clean Energy Regulator or phone 1300 553 542.

First published by the Clean Energy Regulator 2018. ©Commonwealth of Australia 2018 under CC BY-NC-ND 3.0

Image credit: ©stock.adobe.com/au/Africa Studio