Carbon auction clears below secondary market price

Carbon emissions priced at $85 at tonne. (Image: Getty)

Wed, 07 Sep 2022

The third carbon auction of the year has cleared at $85.40 a New Zealand Unit (NZU), below the recent secondary market price of $88.50, which was a record high price.All 4.825 million NZUs – a proxy for a tonne of carbon emissions – on offer were sold.There were 26 participants who made 217 bids for more than 6.4m NZUs with an average bid of 29,556 units. There were 23 successful participants.There were only 4.8m NZUs on offer with the 7m NZU cost containment reserve for the year swallowed up in the first two auctions.NZUs have been...

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