Twenty working day extension avaialable to submit emmissions return

Environmental Protection Authority Update 28/3/2023:

We understand this is a difficult time for many people across New Zealand. We want to help those Emissions Trading Scheme (ETS) participants impacted by Cyclone Gabrielle to meet their obligations within the scheme.

If you’re unable to submit your emissions return by 31 March 2023, you can apply for an extension of up to 20 working days. This extension is available to all participants.

You can apply for an extension through the Emissions Trading Register. If you’re unable to apply through the Register, please email emissionstrading@epa.govt.nz or call 0800 CALL EPA (option 2) or 0800 22 55 37 (option 2). 

Please apply as soon as you know you’ll need an extension. Applications through the Register are open until 31 March.

Final or Provisional allocation applications must be applied for between the 1st of January – 30th of April each year (Extension of 20 working days added 2023). A staggering number of growers are still not registered or applying for their IA’s. As of 2021 only 15 of 90 levy paying tomato growers were receiving IA units. Potentially growers are missing out on tens of thousands of dollars’ worth of units each year.

Grower2Grower has successfully assisted growers to register and apply for their ‘free’ Industry Allocations units (IA’s).

As of 2021 official records, only fifteen (15) out of ninety (90) registered levy paying tomato growers had an account and were receiving IA’s. Only nine cucumber growers are registered and receiving IA’s. Eight capsicum growers/businesses were also receiving their IA’s, however, in % terms that is over 95% of the capsicum greenhouse industry to my best estimate. The 2022 figures are yet to be released so hopefully more eligible growers registered an account last year.

For growers who have not set up an account you are running out of time to claim 2022 units. The window to register your ETS activities and claim final IA’s for the 2022 season expires on April the 30th.

Grower2Grower offers a service to set up and manage accounts:

If growers do require help, then Grower2Grower is able to work with you on this process. To help set the necessary registration and account process will take a short period of time. It will vary depending on the information and assistance of each grower. Each registration and account setup and process should take around four hours of organising to complete. Please e-mail marie@grower2grower.co.nz if you are interested in this service. Grower2Grower can then offer an additional service to remind businesses and apply for final and/or provisional ETS activities. Terms and Conditions apply.

This service is only available to greenhouse growers entitled to claim industry allocations.

Note: waiting for approval from the Environmental Protection Authority confirming account registration may take several working days. Upon declaration and submitting your ETS activities, there is another wait for confirmation of your companies final or provisional unit allocation.

What are growers potentially entitled to? Please look at this example:

A hypothetical example below shows that 177 tonnes of annual cucumber production has equated to an allocation amount of 353 units. Each unit is currently worth approximately $ 70.00 per unit. That equates to 353 units x $ 70.00. Potentially over $24,000 for one year’s production. Units can be converted into dollars via brokers that trade in these units.

See current updated prices: https://www.carbonnews.co.nz/tag.asp?tag=Carbon+prices#:~:text=MARKET%20LATEST%3A%20NZUs%20%2472.30

https://environment.govt.nz/what-government-is-doing/areas-of-work/climate-change/ets/nz-ets-market/emission-unit-prices-and-controls/

If you are confident to do it yourself here are a few tips:

1. Create a RealMe® account or log in with your existing RealMe account. RealMe is a government service that lets you easily and securely prove your identity online. You can follow the link on the public front page of the Register to go to the RealMe website.

2.  Once you have logged in with your RealMe login, you can follow the prompts to register as a user of the New Zealand Emissions Trading Register at www.emissionsregister.govt.nz

There are key timeframes to be aware of:

You must submit your application via the Register by the following statutory deadlines:
• Provisional allocation applications: Apply between 1 January – 30 April of the year for which you wish to receive NZUs.
• Final allocation applications and annual allocation adjustments: Apply between 1 January – 30 April of the year following the year for which you wish to receive NZUs.
• A Closing Allocation Adjustment and the repayment of any units must be completed within 20 working days from the date you stopped carrying out the activity.
Late applications cannot be accepted under any circumstances.

Please check out additional articles in today’s Grower2Grower E-zine that explain this very important topic.

Article written and compiled by Stefan Vogrincic

All Article’s checked and edited by Marie Vogrincic

I appreciate your comments.  Please feel free to comment on the grower2grower Facebook page or email: stefan@grower2grower.co.nz

https://www.facebook.com/StefanGrower2grower/

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