On March 4, the Minister for Industry, Energy and Emissions Reduction announced changes to the operation of the Emissions Reduction Fund (ERF), with project owners given the option to exit their ‘fixed delivery’ carbon abatement contracts (CACs) with the Commonwealth to pursue higher prices in the secondary market.
Contract holders will be eligible to be released from their fixed delivery schedules in six-month windows, commencing from 4 March to 30 June 2022. Should all scheduled deliveries trigger their optionality over the next three months up to 7 million ACCUs could become available to the market, and up to 112 million
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