Hunt announced that he has put an end to the auction that was due to take place before June 30 next year by signing the Clean Energy Auction Revocation Determination 2014.

The regulation will be tabled in both houses of parliament today and Hunt said that the legislative instrument would come into force tomorrow.

"This gives business certainty that they no longer need to take part in carbon unit auctions," Hunt said in a statement.

However, Hunt said there is a possibility that Labor and the Greens may oppose the move in Senate, since they have already blocked the government's plan to repeal the carbon tax.

"Labor says they don’t support the carbon tax any more, yet they refuse to vote to repeal it. We’re forcing Labor to take a stand and vote in favour of a price on carbon if they want to keep it," Hunt told The Daily Telegraph newspaper.

Meanwhile, Greens deputy leader, Adam Bandt told The Australian newspaper that his party would try to reinstate the auctions.

"We'll not support the environment minister's move to wind back some of the gains that were made in the last parliament," Bandt said.

The carbon tax repeal bills are expected to pass the Senate after July, when the Greens lose the balance of power.