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Third Emissions Reduction Fund auction results released

06 May 2016

The third ERF auction has achieved an average price of $10.23 per tonne of abatement. Overall, 50,471,310 tonnes were contracted with 33 participants.

The Clean Energy Regulator announced yesterday that it has contracted 50,471,310 tonnes of abatement at an average price per tonne of abatement of $10.23 in the third Emissions Reduction Fund auction for a total value of $516,177,598.

The third Emissions Reduction Fund auction saw 73 Carbon Abatement Contracts awarded to 33 participants for 73 projects.

After three auctions, a total of 309 carbon abatement contracts have been awarded to deliver 143,255,460 tonnes of abatement. The Clean Energy Regulator has committed a total of $1.7 billion from the $2.55 billion allocated to the fund.