CARBON AUCTIONS FOR GOVERNMENT – CLEAN ENERGY REGULATOR
Tradeslot and Deloitte were selected following an open Request for Tender (RFT) process in 2012. The main components of the solution are a highly automated, web based auction system (simultaneous clock auction), a deposit handling system and integration with Government systems for invoicing and reporting.
Starting in 2008, the Australian Government has established an emissions trading scheme requiring up to 500 of Australia’s largest polluters to report on their emissions and to pay a price for every tonne of carbon pollution they emit. Some of the carbon permits will be allocated free-of-charge to eligible businesses to support jobs and competitiveness and help affected industries move to a clean energy future. The Government will sell the rest of the units at auction.
Tradeslot, together with professional services firm Deloitte were selected to provide the Auction Solution to support auctioning of carbon units in accordance with the Clean Energy Act 2011.
As per current legislation the first auction of carbon units will take place in the first half of 2014 and will be conducted by the Clean Energy Regulator.
The Department of Treasury projects the auction revenue for 2014-15 to reach A$6.5B – refer to page 5-24 of this PDF..
The criteria to succeed in a highly competitive environment were both the breadth of commercial-off-the-shelf (COTS) functionality as well as Tradeslot’s deep auction expertise that will ensure the system can be adjusted to changing requirements and legislation.
Another important areas has been Deloitte software assurance capability (testing Tradeslot’s products on vulnerabilities and security risk).