Geothermal fluid users, along with others in the stationary energy and industrial processes sectors, will become mandatory participants in the NZ ETS when their reporting obligations begin on 1 January 2010. Surrender obligations begin on 1 July 2010.
The Climate Change Response Act 2002 (the Act) requires mandatory participants to register as participants within 20 working days of carrying out the ETS activity. In the geothermal sector, this is likely to 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 registered, 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.