The Clean Energy Regulator has announced the results of the fifth ERF auction. The Emissions Reduction Fund has now secured 189 million tonnes of abatement through 387 contracts.
The Clean Energy Regulator has awarded new contracts for 11.25 million tonnes of abatement under 31 Carbon Abatement Contracts for a total value of $133 million.
The majority of bids at the fifth auction represented value for money, with 84.1 percent of the volume of abatement offered below the benchmark price accepted.Abatement was purchased at an average price of $11.82 per tonne. Across all auctions the average price has remained steady at $11.83.
A total of $2.2 billion has now been committed under the Emissions Reduction Fund, with more than $300 million available for future purchasing.
A summary of the fifth Emissions Reduction Fund auction results are available on Clean Energy Regulator’s auction results page.