A multi-year monitoring period (MYMP) lets a Safeguard facility be assessed over two to five financial years instead of each year. Its net emissions and baseline are added up across the period and compared at the end. Every MYMP must end by 30 June 2030.
Key points
- Assessed over two to five financial years
- All MYMPs must end by 30 June 2030
- Needs a credible emissions intensity reduction plan
- Excludes TEBA and borrowing during the period
- Due 15 November
Who is eligible
- The facility’s covered emissions in the first financial year exceed that year’s baseline.
- The responsible emitter will carry out activities during the period to reduce emissions intensity.
- Those activities are reasonably likely to prevent an excess emissions situation by the end of the period.
What the application needs
A detailed plan explaining how the activities will reduce emissions, with estimates, timelines, a risk analysis and evidence of the organisation’s capacity to deliver.
Trade-offs
A facility in an MYMP cannot also have a TEBA determination or a borrowing adjustment during the period. It may be eligible for SMCs at the end if its emissions are below baseline.
How to apply
Applications are due by 15 November after the end of the first financial year of the proposed period. The CER’s multi-year monitoring period application guideline sets out what the plan must contain.
What happens at the end of the period
At the end of an MYMP, the facility’s net emissions for every year in the period are added together and compared with the sum of its baselines. If total net emissions exceed the total baseline, the facility is in an excess emissions situation and must resolve it by the next 1 April. The responsible emitter must also explain the facility’s performance by 31 October after the period ends.
The last available period
Because every MYMP must run for at least two years and end by 30 June 2030, the last period that can start covers 2028-29 and 2029-30.
Publication
The CER publishes multi-year monitoring period data each April with its other Safeguard data.
References & sources
Primary regulatory documents and authoritative references underpinning this answer.