Carbon price pushes towards $70

Climate minister James Shaw is thinking of adjusting carbon volumes as auction system evolves. (Image: BusinessDesk).

Wed, 01 Dec 2021

The price of carbon reached $68 in the final auction of the year, exceeding the recent spot price of about $65 on the secondary market.The fourth and final Emissions Trading Scheme (ETS) auction for 2021 took place on Wednesday with no contingency reserves left to increase the volume on offer.The 4.75 million New Zealand Units (NZUs) on offer sold for a clearing price of $68, netting the government $323m.Between them, 26 participants – of which 18 were successful – made 309 bids for 9.2m units, about twice the number on offer.The au...

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