Markets and prices · Australia

Australia puts the interim Safeguard unit price for 2026-27 at A$38.47 after the September quarter

Australia's climate department has published an interim Safeguard Mechanism unit price of A$38.47 for the 2026-27 financial year, based on the September quarter of 2026.

The figure compares with final default prescribed unit prices of A$36.99 for 2025-26, A$36.05 for 2024-25 and A$33.19 for 2023-24.

It remains well below the A$87.72 cost containment price that the Clean Energy Regulator charges in 2026-27.

2 Nov 2026Markets and pricesAustraliaPublished 12 Nov 2026
Sydney central business district skyline at dawn, seen from the airport
Sydney central business district skyline at dawn, seen from the airport. Photo: Karora, Public domain, source. Resized only; no other change.
Report

What happened

The Department of Climate Change, Energy, the Environment and Water (DCCEEW) shows on its Safeguard Mechanism page, last updated on 2 November 2026, an interim estimate for the year to September of A$38.47 for the average prescribed unit price in 2026-27. The average for the September quarter of 2026 alone is the same A$38.47, since the financial year began on 1 July.

For 2025-26, the same page lists a final price of A$36.99. Earlier final values were A$36.05 for 2024-25 and A$33.19 for 2023-24. The department names RepuTex Energy IQ as the data source for the two latest years and Core Markets for 2023-24, and says the figures follow its published methodology. It must publish the final figure by 30 June each year and publishes the year-to-date interim estimate every quarter.

The price is used in one specific calculation. Facilities applying for trade-exposed baseline-adjusted (TEBA) status calculate their compliance cost as the tonnes by which they exceed their baseline, multiplied by the default prescribed unit price. On these figures, the 2026-27 interim estimate is 4% above the 2025-26 final value and 16% above the 2023-24 value.

Context

Background

The Safeguard Mechanism applies to facilities whose annual emissions exceed 100,000 tCO2e. Since the 2023 reforms, baselines fall by 4.9% a year to 2030, and facilities above their baseline must surrender ACCUs or SMCs before 1 April.

TEBA status is a subset of trade-exposed status for facilities facing an elevated risk of carbon leakage. It gives a reduced baseline decline rate for three years, based on a prescribed scheme impact metric; manufacturers measure that impact against EBIT and other facilities against revenue, under the department's published EBIT guidelines.

The Clean Energy Regulator also offers ACCUs from its cost containment measure at a fixed price, which rises by CPI plus 2% a year. That price was A$75 in 2023-24 and is A$87.72 in 2026-27. The measure held 6.1 million ACCUs at 30 September 2026.

The scheme is under review. The department's review page, updated on 13 October 2026, links to submissions on its consultation paper and lists policy positions and any draft rule amendments for early 2027. Items under review include the baseline decline rate for 2030-31 to 2034-35 and the arrangements for trade-exposed facilities.

Data

How it compares

Three Safeguard price references by financial year (A$ per unit)

Source: Clean Energy Regulator. Checked 2026-11-12. Default prescribed unit prices are from the DCCEEW Safeguard Mechanism page. Percentages in the text are calculated from these values.

Table of the same figures
Financial yearDefault prescribed unit price (DCCEEW)Cost containment price (CER)Generic ACCU spot at end of June (CER)
2023-2433.197534.34 (June 2024)
2024-2536.0579.2035.45 (June 2025)
2025-2636.9982.6837.95 (June 2026)
2026-2738.47 (interim, to September)87.72Not yet available
Ahead

What is next

  • 2027-06-30: deadline for DCCEEW to publish the final 2026-27 default prescribed unit price (published by 30 June each year)
Record

Sources

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