Carbon auction partially clears raising $258m for Govt

Finance Minister Nicola Willis gets an early Christmas present. (Image: NZME)

Wed, 04 Dec 2024

The last carbon auction of the year has partially cleared, raising $258 million for the Government.There were 4,032,500 New Zealand Units sold. NZUs are a proxy for one tonne of carbon and are used by emitters to settle the emissions within trading scheme requirements.The 11,125,700 NZUs were on offer at an auction floor price of $64. More NZUs could have been sold, but the trigger price was so high that there was a near-zero chance of it happening.Instead, 10 participants all made successful bids and the clearing price of $64 applied to everyo...

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