Energy

Please note that applications for Energy Security Fund cash payments closed 31 January 2012.

Applications for free carbon units open on 2 April 2012 with the commencement of the Clean Energy Regulator.

About the Energy Security Fund

The Energy Security Fund is a key element of the Australian Government's Clean Energy Future package.

The Energy Security Fund will provide transitional assistance to promote the transformation of the electricity generation sector from high to low emissions generation while addressing risks to energy security that may arise from the introduction of the carbon price.

The fund was established with two key components:

• $5.5 billion in transitional assistance, in the form of allocations of free carbon units and cash payments, to generators with an emissions-intensity above 1.0 tCO2-e/MWh on an 'as generated' basis. The Department of Climate Change and Energy Efficiency is responsible for overseeing transitional assistance.
  
  
• scope to negotiate payments for the closure of around 2000 megawatts of highly emissions intensive generation capacity by 2020, open to generators with an emissions-intensity above 1.2 tCO2-e/MWh on an 'as generated' basis. The Department of Resources, Energy and Tourism (RET) is responsible for implementing the Contract for Closure Program.

Related documents

The following documents are advice from the Australian Energy Market Operator (AEMO) and Australian Energy Market Commission (AEMC) regarding energy security under the Clean Energy Future Package.