Can I still sell credits under the carbon price?
The carbon price was repealed on 17 July 2014 and made into law the same day (this hardly ever happens). Does this mean I can no longer sell credits to the 351 liable companies?
Liable companies had to provisionally report their liability and surrender credits under the carbon price by 15 June 2014. However, they also have to report their final emissions total for the 2013-14 year by 31 October 2014. And they don’t have to finally surrender the carbon credits to cover this final liability until 1 February 2015.
So there is still time to do a deal with a liable company who will otherwise have to pay the Government $24.15 per tonne, but you would need to act fast – a company will not wait until the day before to finalise their plan. If you have any credits in the bank, the time is now.
If you are still waiting to get your project approved, or your credits issued, all hope is not lost – the CFI legislation is active and the Clean Energy Regulator is operating as normal. However, projects can take up to 3 months to be approved by the Clean Energy Regulator and credits can also take 3 months to be issued once all the relevant paperwork has been filed. But with less than 6 months to 1 February 2015, the window is closing fast.
If you miss, you will have to wait for the proposed Emissions Reduction Fund or sell into the voluntary market.