Second Emissions Reduction Fund auction
The Clean Energy Regulator will hold the second Emissions Reduction Fund (ERF) auction for carbon abatement contracts on 4 and 5 November 2015. The auction guidelines will be published on 21 August 2015. Applications for new projects to enter the auction are required to be submitted in full by 18 September 2015.
‘We are confident the second auction will attract strong competition,’ said Ms Chloe Munro, Chair of the Clean Energy Regulator.
The objective of the ERF is to help Australia meet its emissions reduction target of five per cent below 2000 levels by 2020. Through the ERF, the government will purchase lowest cost abatement (in the form of Australian carbon credit units) from a wide range of sources, providing an incentive to businesses, households and landowners to reduce their emissions.
The types of projects that can be undertaken as part of the ERF are called methods. Numerous ERF methods are available to industry, with the following listed under energy efficiency: