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STEVE AUSTIN:
Alright. The first Emissions Reduction Fund auction opens in four weeks from now on 15 April. What does that do?
GREG HUNT:   
So, the Emissions Reduction Fund reduces Australia's emissions by buying emissions reduction. For example, we would help clean up a power station, encourage energy efficiency across 100,000 homes, support reforestation, support on-farm activities that might reduce emissions in terms of reductions in methane.
Practical actions across the country and we'll do this on a - through a competitive auction. The expectations were reasonable, the current evidence is that we may well be on track for well in excess of what we had anticipated. So, at this stage I feel very confident. I will wait and see the outcome of the auction. It's been done by the Clean Energy Regulator but instead of a carbon tax and a massive hike in electricity prices, this is laser surgery, directly targeting emissions reductions…
STEVE AUSTIN:
And private industries can bid for this fund-money to clean up their act?
GREG HUNT:   
Correct, that's exactly what they can do…
STEVE AUSTIN:
Four weeks from now we'll know what the auction results were?
GREG HUNT:   
Correct but we'll know - the auction will be in four weeks, we'll know within about five.


B Rubes