Annual benefit at full run rate
A$1,245m a year from FY31: diesel, gas and bought-in power avoided, less running costs.
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- Diesel avoided: 551 ML a year, the electrified haul trucks and other mobile plant (239 MW at 3.8 kWh per litre), valued at A$2.50/L delivered less the 53.7 c/L fuel tax credit, A$1.96/L.
- Gas avoided: Fortescue’s FY26 gas use of 10.87 PJ less the gas still burnt for backup, at A$7.7/GJ.
- Bought-in electricity avoided: Fortescue’s FY26 purchases of 800 GWh. The price is not disclosed; A$150/MWh is an unverified ITK assumption.
- Safeguard Mechanism: Fortescue’s six covered facilities emitted 1.95 Mt in 2024-25; each tonne avoided is valued at the A$37.50 ACCU spot price, held flat.
The benefit ramps from Fortescue’s stated US$100m in FY27 to the full amount in FY31.
Sources: Fortescue FY26 annual report and ESG databook; Clean Energy Regulator Safeguard data 2024-25 and Quarterly Carbon Market Report; AIP terminal gate prices; ATO fuel tax credit rates; ITK estimates.