What is the difference, if any, between the forecast cash receipts from ETS auctions and the actual cash receipts for financial year 23/24?

Answer

Actual cash receipts in the 23/24 financial year were $684 million lower than what was forecast in the Budget Economic and Fiscal Update 2023. As the Crown recognises a corresponding liability when ETS units are sold, these lower cash receipts relative to the Budget Economic and Fiscal Update 2023 forecast resulted in a lower liability being recognised and therefore this had no impact on the Crown’s balance sheet.