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The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021

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This is the original version (as it was originally made).

Announcement and notification of the auction results

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44.—(1) An auction platform must announce the results of each auction it conducts including at least the following information—

(a)the volume of the allowances auctioned;

(b)the auction clearing price in pounds sterling;

(c)the total volumes included in bids submitted;

(d)the total number of bidders and the number of successful bidders;

(e)in case of cancellation of an auction, the auctions to which the volume of allowances will be carried over;

(f)the total revenue earned from the auction.

(2) The auction platform must announce the results of each auction as soon as is reasonably practicable.

(3) The information on the auction results pursuant to paragraph (1)(a) and (b) must be announced no later than 5 minutes after the close of the bidding window.

(4) The information on the auction results pursuant to paragraph (1)(c) to (f) must be announced no later than 15 minutes after the close of the bidding window.

(5) At the same time as the auction platform announces the information listed in paragraph (1)(a) and (b), the auction platform must notify each successful bidder bidding through its systems—

(a)the total number of allowances to be allocated to that bidder;

(b)which of its tied bids, if any, were randomly selected;

(c)the payment due in pounds sterling;

(d)the date by which the payment due must be paid in cleared funds into the auctioneer’s nominated bank account.

(6) An auction platform must notify the relevant clearing system and settlement system connected to it of the information notified to each successful bidder under paragraph (5).

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