Environment Minister Greg Hunt has stepped in to stop the auction of carbon units saying it will give business certainty ahead of the government’s plans to scrap the carbon tax.
Mr Hunt on Monday said he had put an end to the auction due to take place before June 30 next year by signing the Clean Energy Auction Revocation Determination 2014.
He said the legislative instrument would come into force on Tuesday.
“This gives business certainty that they no longer need to take part in carbon unit auctions,” Mr Hunt said in a statement.
However, he raised the possibility of Labor and the Greens disallowing the move in Senate.
“Does (Labor leader) Bill Shorten believe in higher electricity prices for Australian families? We’ll soon know the answer,” he said.
The government’s plans to repeal the carbon tax are being blocked by Labor and the Greens in the Senate.