These updates provide information on trends in the ACCU market in Australia to increase market transparency, and drive genuine low cost carbon abatement opportunities. This information should also assist entities who need to source ACCUs, including responsible emitters who need to surrender units under the safeguard mechanism.
The Clean Energy Regulator will release ACCU market updates periodically throughout the financial year.
It has been a busy start to the 2018–19 year, with activity resulting in a positive outlook for the market at the close of 2019.
Market activity highlights:
- 3.27 million tonnes of carbon abatement was purchased at the eighth Emission Reduction Fund auction at an average price of $13.87 per ACCU
- 10.9 million ACCUs were delivered from current Emissions Reduction Fund contracts in 2017–18, set to increase to 20.9 million required by 2021–22
- 355,000 ACCUs were cancelled in 2017–18 either voluntarily or by state and territory governments—more than double the 138,000 ACCUs cancelled in 2016–17
- 5.3 million ACCUs have been issued in 2018–19 to date—up 25 per cent on December 2017 levels, and
- 3.3 million ACCUs are currently held in Australian National Registry of Emissions Units (ANREU) accounts—up 33 per cent on the 2017–18 average of 2.5 million ACCUs.
We expect that there will be adequate ACCU supply in the short-term to meet d