2. Process for becoming a registered participant
Gas miners and importers, along with others in the stationary energy and industrial process sectors, will become mandatory participants when their reporting obligations begin on 1 January 2010. Surrender obligations begin to accrue on 1 July 2010.
The Act requires all mandatory participants to have registered as participants within 20 working days of carrying out the particular ETS activity. For most persons in the natural gas sector, this will be within 20 working days of 1 January 2010 ie, 1 February 2010.
To register as a participant you must:
- first, apply to open a holding account which will ultimately be used for surrendering and receiving NZUs. A participant who will be involved in more than one activity can use a single holding account for all activities.
To open a holding account, register as a user on the New Zealand Emission Unit Register (NZEUR) website at www.eur.govt.nz. Once the user registration is approved, use the online application form to open an account
- second, register as a participant by completing an online participant notification form at www.eur.govt.nz.
Gas purchasers wishing to opt in as voluntary participants may register at any time. After registering, NZ ETS obligations become mandatory. A person who applies for registration becomes a participant one year after they have been notified by the Chief Executive of the Ministry for Economic Development that their application has been entered on the participant register. Deregistration, or release from obligations under the NZ ETS, will take effect four years after notifying the NZEUR.
