Carbon prices crash through ceiling

Carbon prices crash through ceiling
Climate change minister says steps will be taken to curtail carbon unit supply after ceiling breach triggers flood of NZUs (Image: BusinessDesk)
Ian Llewellyn
The latest carbon auction has cleared above the ceiling price, releasing another 7 million New Zealand units into the emissions trading scheme.The third auction of NZUs offered 4.75m NZUs with a ceiling price of $50.However, as the clearing price was $53.85 another 7m NZUs were released from the cost containment reserve and in all 11.75m units were sold.This means the gross returns for the government were $632.7 million.Early data from the auction managers said there were 43 participants with 31 successful.At the last auction in June, there wer...

More Economy

Buzzkill: Honey industry past its sweet spot, report says
Primary Sector

Buzzkill: Honey industry past its sweet spot, report says

The crisis is more of a ‘correction’ than anything terminal, Coriolis says.

Unemployment to hit 5%, bank economists say
Economy

Unemployment to hit 5%, bank economists say

Economic activity is catching up with the labour market, says ASB economist Mark Smith.

Mitre 10 sees economy turning up
Retail

Mitre 10 sees economy turning up

But recovery will be 'no quick bounce', the CEO says.

Pattrick Smellie 01 Nov 2024
Business confidence hits 10-year high
Economy

Business confidence hits 10-year high

Business confidence increases steadily again, according to the country's largest bank.