Exchange for Change (EfC) has released the new fixed price per material type for supplier contributions, that fund the Return and Earn NSW container deposit scheme.
by material type.
The scheme is effective for six months, for invoices issued from August, which, according to Danielle Smalley, CEO of Exchange for Change, was set "because of ongoing uncertainty".
From August, the new weighted average price (excluding GST) per eligible container will be 11.71c.
“We understand pricing certainty and stability is important to suppliers and we aim to return to a 12-month fixed price by material type once economic conditions become more predictable,” said Smalley.
Under the NSW scheme, beverage suppliers pay a fixed price per material type. The current weighted average price per eligible drink container they supply into NSW for the six-month period from February to July 2022 is 10.61c (excluding GST).
The change in pricing reflects a return to more normal redemption patterns following the reopening of return points in Greater Sydney in September last year.
“The NSW scheme operates on a cost-recovery basis and the current pricing, announced last October, reflected the drop in redemptions,” Smalley said.
“Today however, return rates are starting to recover. The new weighted average price has increased by 1c to ensure sufficient funds to meet forecast scheme costs during the pricing period,” she added.
The pricing for invoices issued from August to January 2023 was developed following extensive modelling which reviewed more than four years of scheme supply and redemption trend data, consultation with the beverage industry, and consumer research to understand community redemption behaviour.
Return and Earn continues to deliver strong environmental, community and economic benefits to the NSW community with more than 7 billion containers returned for recycling through its 620-strong return point network across the state to-date.
Participation is high, with 78 per cent of NSW residents having participated, while more than $30 million has been returned through the scheme to charities and not-for-profits via donations and fees from hosting return points.
Click here for more information about the NSW scheme, how it operates and current pricing by material type.
